Strides Arcolab soars on striking in-licensing deal
DALAL STREET SPIKES
BS Reporter / Mumbai July 24, 2008, 0:50 IST
The shares of Strides Arcolab (Strides) surged by 17 per cent to Rs 172.05 after Onco Therapies (OTL), the joint venture between Strides and Aspen Pharmacare Holdings, concluded a licensing and supply agreement with GlaxoSmithKline (GSK).
Under the agreement, OTL will license intellectual property and supply finished dosage form pharmaceuticals to GSK. OTL will recover the intellectual property development costs from and share the profits with GSK. The stock hit a high of Rs 179.80 and a low of Rs 144.
Content Guide
