The two-part alliance is for the development, manufacture and commercialisation of biosimilar monoclonal antibody products, IPCA Labs said in a release to the stock exchanges.
Under the first part of the agreement, IPCA will in-license and commercialise biosimilar products for India and associated markets. These products will be developed by Oncobiologics to US FDA and EU regulatory standards for global commercialisation.
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In the second part, Oncobiologics will replicate its biologics R&D and manufacturing facility in India to create a world-class capability for IPCA for further biosimilar commercialisation.
The stock opened at Rs 800 and touched an intra-day high of Rs 809 so far. Over 50,000 shares were traded on both the stock exchanges so far.