Caplin Point gains 3% as arm enters into license and supply agreement with Baxter

Shares of Caplin Point Laboratories gained 3 percent intraday Monday as arm enters in to license and supply agreement with Baxter.

The company's wholly owned subsidiary Caplin Steriles has entered into a license and supply agreement with Baxter Healthcare Corporation for five generic injectable ANDAs, company said in press release.

C.C.Paarthipan, Chairman, Caplin Point Laboratories said, "We're glad to enhance our partnership with Baxter with this agreement. All these ANDAs have been developed in-house, and we're keen to license them to Baxter, who have an excellent sales and marketing infrastructure in the US for commercialization of these products."

At 11:30 hrs Caplin Point Laboratories was quoting at Rs 395.70, up Rs 8.40, or 2.17 percent on the BSE

The share touched its 52-week high Rs 622.55 and 52-week low Rs 304.75 on 06 April, 2018 and 29 January, 2019, respectively.

Currently, it is trading 36.32 percent below its 52-week high and 30.09 percent above its 52-week low.