Drug firm Lyka Labs has entered into a technology transfer pact with a Turkish pharma firm for adopting a manufacturing process that enables longer storage of medicines, entailing a cost of $250,000 and royalty payments for five years.
"The company has recently entered into a technology transfer agreement with a pharma company based in Republic of Turkey for a lyophilised formulation, for a consideration of $250,000 and Royalty for five years," Lyka Labs said in a filing to BSE.
Lyophilization is a manufacturing process that helps pharmaceuticals to be stored for a long period without the degradation in materials.
The company had also entered into a technical assistance agreement for lyophilized formulations with a company based at Indonesia in November.
Shares of Lyka Labs were today trading at Rs 9.43 in the after noon trade on BSE, up 3.63% from its previous close.