Unichem Lab spurts after entering in settlement agreement

Unichem Laboratories gained 4.71% to Rs 248 at 14:43 IST on BSE after the company entered into a settlement agreement with Eli Lilly & Company and ICOS Corporation for generic tadalafil.

The announcement was made during market hours today, 20 June 2018.

Meanwhile, the S&P BSE Sensex was up 219.95 points, or 0.62% to 35,506.69.

On the BSE, 58,000 shares were traded in the counter so far, compared with average daily volumes of 14,000 shares in the past two weeks. The stock had hit a high of Rs 258.05 and hit a low of Rs 237.45 so far during the day. The stock had hit a record high of Rs 382 on 8 January 2018. The stock had hit a 52-week low of Rs 231.40 on 5 June 2018.

The small-cap company has equity capital of Rs 14.07 crore. Face value per share is Rs 2.

Unichem Laboratories has entered into a settlement agreement with Eli Lilly & Company and ICOS Corporation to resolve their patent litigation in the United States District Court for the District of New Jersey regarding Unichem's Abbreviated New Drug Application for generic tadalafil (Cialis). Under the settlement agreement, Unichem expects to launch its generic tadalafil product in the United States on or not before 26 March , 2019 under certain circumstances.

On a consolidated basis, Unichem Laboratories reported net loss of Rs 2.38 crore in Q4 March 2018 as compared to net profit of Rs 29.01 crore in Q4 March 2017. Total income rose 30.30% to Rs 281.97 crore in Q4 March 2018 over Q4 March 2017.

Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India and several other markets across the world.

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