AstraZeneca Pharma gains on entering into agreement with AstraZeneca UK

AstraZeneca Pharma India gained 8.31% to Rs 1,000 at 14:27 IST on BSE after the company entered into agreement with AstraZeneca UK.

The announcement was made on Friday, 3 April 2015. The stock market remained closed on Friday, 3 April 2015, on account of Good Friday.

Meanwhile, the S&P BSE Sensex was up 122.49 points or 0.43% at 28,382.63

On BSE, so far 11,758 shares were traded in the counter as against average daily volume of 6,318 shares in the past one quarter.

The stock hit a high of Rs 1,004 and a low of Rs 944.10 so far during the day. The stock had hit a 52-week low of Rs 785.30 on 17 February 2014. The stock had hit a 52-week high of Rs 1,285 on 23 June 2014.

The stock had outperformed the market over the past one month till 1 April 2015, rising 12.23% compared with 3.75% decline in the Sensex. The scrip also outperformed the market in past one quarter, rising 5.97% as against Sensex's 2.74% rise.

The small-cap company has equity capital of Rs 5 crore. Face value per share is Rs 2.

AstraZeneca Pharma India said that the company has entered into agreement dated 24 March 2015 with AstraZeneca UK (AZ UK) pursuant to which the company would receive from AZ UK, the reimbursement of certain costs incurred for the marketing and promotion of the new launch products and support for the distribution of other products supplied by AZ UK, in accordance with the arm's length return on revenues.

AstraZeneca Pharma reported net loss of Rs 13.41 crore in Q2 December 2014 as compared to net profit of Rs 1.52 crore in Q2 December 2013. Net sales declined 9.1% to Rs 108.12 crore in Q2 December 2014 over Q2 December 2013.

AstraZeneca Pharma India is one of the leading pharmaceutical companies, with a broad range of medicines designed to fight disease in important areas of healthcare. The company is involved in both manufacturing and marketing of medicines.

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