 "Dishman Pharma zooms on license to produce API for MDR-TB drug")
Shares of Dishman Pharmaceuticals and Chemicals zoomed over 16% to Rs 307, after hitting a fresh 52-week high of Rs 309.50 on the Bombay Stock Exchange, after the company announced that it has secured an approval from Janssen Pharmaceutica NV to manufacture active pharmaceutical ingredient for tuberculosis drug.
The company holds a license agreement from Janssen Pharmaceutica NV, one of the Janssen Pharmaceutical Companies of Johnson & Johnson to produce active pharmaceutical ingredient of SIRTURO (bedaquiline), a drug dispensed for the treatment of multi-drug resistant Tuberculosis, the company said in a release.
In 2008, Janssen had contracted Dishman to conduct full chemical synthesis of this API at their manufacturing facility in Bavla, India. Recently, the company has started supplying Janssen with the global demand of this API.
The stock opened at Rs 263 and touched a 52-week high of Rs 309.50. At 3PM over 7 million shares were traded on both the stock exchanges.
