Don’t miss the latest developments in business and finance.

Biocon pares gains, ends flat

Image
BS Reporter Mumbai
Last Updated : Jan 20 2013 | 11:39 PM IST

The stock pared gains to touch a low of Rs 234 and finally ended flat at Rs 235. The counter witnessed trades of 568,549 shares as compared to the two-week daily average traded volumes of 233,973 shares.
_____________________________________________________

(Updated at 1202hrs)

Biocon has gained on partnership with Amylin Pharmaceuticals for global development and commercialization agreement for a Novel Peptide Hybrid.

The stock opened at Rs 240 and slipped to a low of Rs 236. Thereafter, it surged 4% to touch a high of Rs 244. The stock is now up 2% at Rs 239. In the process it is just 6% away from its 52 week high of Rs 255. However, it has zoomed over 174% from its 52 week low of Rs 87. Around 361,585 shares have been traded on the BSE so far.

The company has informed the BSE that it has entered into a partnership with Amylin Pharmaceuticals to jointly develop, commercialize and manufacture a novel peptide therapeutic for diabetes treatment. Both companies will collaborate to develop the drug and share development costs.

More From This Section

First Published: Sep 11 2009 | 4:01 PM IST

Next Story