Shasun Pharmaceuticals rose 2.39% to Rs 130.55 at 14:49 IST on BSE after the company acquired the global rights to develop and commercialise Ibuprofen the 12-hour extended release tablets from the US-based ScolrPharma.
The company made the announcement during trading hours on Monday, 5 May 2014. The stock settled 0.20% lower at Rs 127.50 on Monday after rising as much as 4.46% in intraday that day.
Meanwhile, the BSE Sensex was up 39.57 points, or 0.18%, to 22,484.69.
On BSE, so far 2.41 lakh shares were traded in the counter, compared with an average volume of 2.27 lakh shares in the past one quarter.
The stock hit a high of Rs 132.85 and a low of Rs 128.60 so far during the day. The stock hit a 52-week high of Rs 138.70 on 28 April 2014. The stock hit a 52-week low of Rs 45.60 on 26 June 2013.
The stock had outperformed the market over the past one month till 5 May 2014, rising 65.58% compared with the Sensex's 0.38% rise. The scrip had outperformed the market in past one quarter, rising 56.83% as against Sensex's 10.78% rise.
The small-cap company has an equity capital of Rs 11.32 crore. Face value per share is Rs 2.
Shasun Pharmaceuticals, through its wholly-owned subsidiary, SVADS Holdings, Switzerland (SVADS) acquired the global rights from ScolrPharma, USA (Scolr), to develop and commercialize Ibuprofen 12 hour extended release OTC tablets (Asset) as well as the associated controlled release technology (CDT) along with global rights of Nuprin trademark, a well known brand in analgesics. The Asset, having completed a successful Phase III in the US is a differentiated long acting NSAIDS in the multi billion dollar global OTC analgesic market.
Shasun is the world's leading, vertically integrated manufacturer of Ibuprofen and its derivatives, from actives to formulated packaged products for both the Rx and OTC markets. This acquisition complements Shasun's strategy to expand its range of NSAIDS products through novel, safe and efficacious delivery technologies including transdermal applications across its Ibuprofen franchise, the company said in a statement.
On a consolidated basis, Shasun Pharmaceuticals' net profit rose 58.8% to Rs 13.04 crore on 20.3% increase in net sales to Rs 309.38 crore in Q3 December 2013 over Q3 December 2012.
Shasun Pharmaceuticals is an integrated pharmaceutical company head office in Chennai India with locations in India, UK and USA. Shasun's unique technologies and reliable GMP compliant facilities provide high quality products. Partnering with global pharmaceutical and retail companies, Shasun provides wide range of OTC and Rx Products and services.
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