Lupin rises 1%; signs agreement with CSIR-National Chemical

By Reuters

Moneycontrol News

Shares of Lupin added 1 percent intraday Thursday as company signed agreement with CSIR-National Chemical and DST for research on biosimilar therapeutic.

The company signed agreement with CSIR-National Chemical Laboratory and Department of Science and Technology for conducting research on a continuous purification process development of a biosimilar monoclonal antibody therapeutic.

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Dr Rustom Mody, Senior Vice President and Head-R&D, Biotechnology, Lupin said, "Biotech is one of Lupin's key growth drivers and we are committed to advancing our biotech R&D capabilities through strategic partnerships."

"Our collaboration with a premier institution like CSIR is an exemplary industry-academia collaboration that can further the development and commercialisation of biologics and biosimilars for a better and more affordable healthcare to customers across the globe," he added.

At 11:26 hrs Lupin was quoting at Rs 763.65, up Rs 3.05, or 0.40 percent.

It has touched a 52-week low of Rs 750.

Share price declined 47 percent in last 1 year.

Posted by Rakesh Patil