Jubilant Life gains on pact with Cyclopharm for Technegas

Shares of Jubilant Life Sciences were up nearly 3% at Rs 399 after the company announced that one of its wholly-owned subsidiaries, Jubilant Draxlmage Inc and Cyclopharm Ltd have mutually terminated their previously announced term sheet for exclusive commercial rights of Technegas in the US market.

Both parties have agreed to discuss potential commercial opportunities once CYC obtains USFDA approval for Technegas, the company said in a release.

The stock opened at Rs 379 and touched a high of Rs 395. At 12:30pm, over 480,000 shares were traded on both the stock exchanges.