AstraZeneca Pharma in pact with AstraZeneca UK; stock up 2%

Shares of AstraZeneca Pharma India gained more that 5 percent intraday Monday as the company has entered into agreement with AstraZeneca UK Limited (AZ UK).

As per the agreement, AstraZeneca Pharma India would receive from AZ UK, the reimbursement of certain costs incurred for the marketing and promotion of the new launch products and support for the distribution of other products supplied by AZ UK, in accordance with the arm’s length return on revenues, as per BSE release.

AstraZeneca Pharma had reported a standalone net loss of Rs 13.40 crore for the third quarter ended December 2014 as against net profit of Rs 1.51 crore for the corresponding period of the previous fiscal.

At 10:20 hrs AstraZeneca Pharma was quoting at Rs 946.90, up Rs 23.60, or 2.56 percent on the BSE.