Moneycontrol PRO
Live Now |Super25 3.0- India’s Largest Online Stock Traders Conference brought to you by Moneycontrol Pro & Espresso

Alkem Labs share price rises 2% on AbbVie Inc deal

The company said it would own the NDA and associated assets and will use these to commercially exploit both branded and generic sales in the US.

December 31, 2019 / 01:39 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of Alkem Laboratories gained more than 2 percent intraday on December 31 after the company acquired new drug application for drug Marinol (a type of appetite stimulant) from AbbVie.

Alkem Laboratories said it entered into an asset purchase agreement with AbbVie Inc, USA, for the acquisition of certain assets.

Assets, as specified in the agreement, are related to the active pharmaceutical ingredient, Dronabinol which include domain names and trademarks related to Marinol, new drug application registration with USFDA for Marinol, logos, patents etc, company added.

Alkem bought these assets for $10 million-plus suitable working capital adjustments on closing.

The company said it would own the NDA and associated assets and will use these to commercially exploit both branded and generic sales in the US.

Close
The stock was quoting at Rs 2,022.15, up Rs 32.65, or 1.64 percent on the BSE at 1331 hours IST.



Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Moneycontrol News
first published: Dec 31, 2019 01:39 pm
Sections
ISO 27001 - BSI Assurance Mark