Akums Drugs inks licensing pact with Canadian firm

Akums Drugs inks licensing pact with Canadian firm

Akums Drugs and Pharmaceuticals on Wednesday said it has inked a licensing pact with Canada-based Triple Hair Inc.

As per the terms of the agreement, the company has been granted exclusive rights to further develop and market the products recently innovated by Triple Hair Inc, in India, Akums Drugs and Pharmaceuticals said in a regulatory filing.

The company will undertake this development and commercialisation after obtaining the necessary regulatory approvals or requisite licenses in India, it added.

"The agreement grants the company exclusive right to use Triple Hair's intellectual property rights (patent) solely to carry out the studies and perform the services as stipulated in the agreement," the company said.

Further, the company will manage the commercial strategy to promote and offer Triple Hair's patented products to its own marketing partners and clients within the Indian market exclusively, it added.

Shares of Akums Akums Drugs and Pharmaceuticals were trading 4.31 per cent up at Rs 919 apiece on BSE.