Alkem Laboratories added 3.75% to Rs 3544 after the company said that it has entered into an exclusive license agreement with Johns Hopkins University (JHU) for commercializing colorectal cancer treatment.
The agreement is for the development and commercialization of Johns Hopkins University's novel target and technology that will help patients with colorectal cancer. This technology, a novel target, will serve as a bona fide biomarker and antagonist in human colorectal cancer based on angiogenesis and inflammation.
Sandeep Singh, Alkem's managing director, said: "This collaboration is a stepping stone to a long term symbiotic relationship between JHU and Alkem, to help bring novel therapies to market". Dr. Akhilesh Sharma, Alkem's president & chief medical officer, stated: "We aspire that this will be a significant step in fostering continued academic and clinical collaboration between Alkem and JHU for addressing unmet patient needs."
He further added that, Alkem will be working with the director of the Sphingolipid Signaling and Vascular Biology Laboratory at the Johns Hopkins University School of Medicine on this novel target.
Alkem Laboratories is a leading Indian pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products. The company produces branded generics, generic drugs, active pharmaceutical ingredients (APIs) and nutraceuticals, which it markets in India and International markets.
The drug maker's consolidated net profit rose 15.29% to Rs 544.26 crore on 18.50% rise in net sales to Rs 2,799.99 crore in Q2 September 2021 over Q2 September 2020.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content