Caplin Point Laboratories rose 2.03% to Rs 347.55 after the company said its subsidiary signed private label distribution agreement with Xellia Pharmaceuticals.
Caplin Steriles, a subsidiary of Caplin Point Laboratories, will license five of its generic injectable ANDAs (abbreviated new drug applications) to Xellia Pharmaceuticals in the US.
The first product is expected to be launched shortly, while approvals for the remaining are expected in the next 12-18 months, the company said in a statement on Tuesday (7 July).
Xellia Pharmaceuticals is a specialty pharmaceutical company developing, manufacturing and commercializing anti-infective treatments against serious and often life-threatening bacterial and fungal infections.
Commenting on the transaction, C C Paarthipan, chairman, Caplin Point Laboratories, said: "We're happy to announce this partnership with Xellia, a company with a long standing track record of commercial success in the US for injectable products. These ANDAs are under Caplin Steriles name and Xellia will be commercializing them in the US."
Caplin Point Laboratories is a fast-growing pharmaceutical company with a unique business model catering predominantly to emerging markets of Latin America and Africa. The Company has also entered regulated markets such as US through its Subsidiary Caplin Steriles, which has has filed 18 ANDAs, with 9 approvals so far.
The drug maker reported 1.8% decline in consolidated net profit to Rs 48.89 crore on a 14.9% rise in net sales to Rs 215.23 crore in Q4 FY20 over Q4 FY19.
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