 "Venus Remedies surges 6% on pact with Teva for anti-cancer drug")
Venus Remedies has surged 6% to Rs 272 in early morning deals on BSE, after the pharmaceutical company has entered into an agreement with Israel-based generic drug maker Teva for selling an anti-cancer drug in Canada.
Under this collaboration, Venus Remedies will be initially manufacturing the drug at the Venus Medicine Research Centre, its research unit, for assisting Teva in registrations.
Thereafter, Venus will also use its manufacturing capabilities to support Teva in enhancing the business from this drug in the Canadian market, the company said in a release.
The current global anti-cancer market size is $ 130 billion with a share of $ 2.8 billion for this drug while the anti-cancer market size of Canada alone is $ 75-100 million, it added.
The stock opened at Rs 266 and touched a high of Rs 277 on BSE. A combined around 120,000 shares changed hands on the counter so far on BSE and NSE.
Under this collaboration, Venus Remedies will be initially manufacturing the drug at the Venus Medicine Research Centre, its research unit, for assisting Teva in registrations.
Thereafter, Venus will also use its manufacturing capabilities to support Teva in enhancing the business from this drug in the Canadian market, the company said in a release.
The current global anti-cancer market size is $ 130 billion with a share of $ 2.8 billion for this drug while the anti-cancer market size of Canada alone is $ 75-100 million, it added.
The stock opened at Rs 266 and touched a high of Rs 277 on BSE. A combined around 120,000 shares changed hands on the counter so far on BSE and NSE.