 "Sun Pharma gains as Taro inks drug pact")
Sun Pharmaceutical Industries is trading higher by 2% at Rs 528 on reports that its subsidiary Taro pharma has entered into an agreement with NovaBiotics to license and codevelop Novexatin, a topical anti-fungal drug to cure toe-nail infections.
Novexatin is a topical treatment for fungal nail infections (onychomycosis). The active pharmaceutical agent of this medicinal candidate is NovaBiotics’ novel, patented antifungal peptide, NP213, which was developed specifically as a safe, fast-acting nail penetrating fungicidal molecule from the company’s proprietary antimicrobial peptide platform, broking firm Angel Broking said in a note.
Novexatin is an investigational drug that is expected to enter a multi-centre phase IIb study for mild-to-moderate onychomycosis in the US.
The stock opened at Rs 524 and hit a high of Rs 531 on NSE. A combined 224,491 shares change hands on the counter till early noon deals on NSE and BSE.
Novexatin is a topical treatment for fungal nail infections (onychomycosis). The active pharmaceutical agent of this medicinal candidate is NovaBiotics’ novel, patented antifungal peptide, NP213, which was developed specifically as a safe, fast-acting nail penetrating fungicidal molecule from the company’s proprietary antimicrobial peptide platform, broking firm Angel Broking said in a note.
Novexatin is an investigational drug that is expected to enter a multi-centre phase IIb study for mild-to-moderate onychomycosis in the US.
The stock opened at Rs 524 and hit a high of Rs 531 on NSE. A combined 224,491 shares change hands on the counter till early noon deals on NSE and BSE.