Biotech firm Biocon today said its unit 'Clinigene International' has inked a pact with US-based Spaulding Clinical Research to jointly offer clinical research solutions to both pharma as well as biotech firms.
This partnership establishes a cost-efficient global footprint for clinical pharmacology services, providing an opportunity for both organisations to engage pharmaceutical clients strategically, Biocon said in a statement.
Clinigene Chief Operating Officer Abhijit Barve said: "Pharmaceutical clients globally are increasingly seeking strategies to expedite their early clinical development, streamlining processes while maintaining high quality.
"Our strategic partnership is designed to deliver this in a very cost-effective manner."
The company, however, did not disclose financial details.
"With Clinigene's expertise and cost-effective approach... Our clients are able to easily structure a program for their compound that delivers high-value value," Spaulding Clinical CEO Randol Spaulding said.
Shares of Biocon today closed at Rs 329.20 on the Bombay Stock Exchange, up 2.01% from its previous close.
Biocon stock price
On November 24, 2015, Biocon closed at Rs 454.40, down Rs 3.1, or 0.68 percent. The 52-week high of the share was Rs 495.70 and the 52-week low was Rs 396.50.
The company's trailing 12-month (TTM) EPS was at Rs 35.36 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 12.85. The latest book value of the company is Rs 129.18 per share. At current value, the price-to-book value of the company is 3.52.
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