Dishman Pharmaceuticals and Chemicals jumped 8.1% to Rs 285.50 at 11:48 IST on BSE after the company informed that it holds a license agreement from Janssen to produce a medicine used in the treatment of tuberculosis.
The announcement was made during market hours today, 23 September 2015.
Meanwhile, the BSE Sensex was down 5.49 points, or 0.02%, to 25,646.35
On BSE, so far 6.35 lakh shares were traded in the counter, compared with an average volume of 2.96 lakh shares in the past one quarter.
The stock hit a high of Rs 288.90 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 260 so far during the day. The stock hit a 52-week low of Rs 102.80 on 17 December 2014.
The stock had outperformed the market over the past one month till 22 September 2015, rising 16.5% compared with Sensex's 6.26% fall. The stock had also outperformed the market in past one quarter, surging 77.79% as against Sensex's 7.49% fall.
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The small-cap company has an equity capital of Rs 16.14 crore. Face value per share is Rs 2.
Dishman Pharmaceuticals and Chemicals announced today, 23 September 2015 that the company holds a license agreement from Janssen Pharmaceutica NV, one of the Janssen Pharmaceutical companies of Johnson & Johnson (Jenssen) to produce active pharmaceutical ingredient (API) of Sirturo (bedaquiline), a medicine used in treatment of multi-drug resistant tuberculosis (MDR-TB).
It may be recalled that in 2008, Janssen had contracted Dishman Pharmaceuticals and Chemicals to conduct full chemical synthesis of the active pharmaceutical ingredient (API) at company's plant in Balva, India. Janssen subsequently registered Dishman Pharmaceuticals and Chemicals as a manufacturer of API with US Food and Drug Administration (USFDA), European Medicines Agency and several other Asian regulatory authorities. Recently, the company has started supplying the drug to Janssen, Dishman Pharmaceuticals and Chemicals said.
In January 2015, Sirturo received approval from the Drugs Controller General of India for use in adults (more than 18 years old) as part of combination therapy of pulmonary tuberculosis due to multidrug-resistant Mycobacterium tuberculosis when an effective treatment regimen cannot otherwise be provided.
On a consolidated basis, Dishman Pharmaceuticals and Chemicals' net profit rose 58.6% to Rs 37.76 crore on 10.6% rise in net sales to Rs 400.04 crore in Q1 June 2015 over Q1 June 2014.
Dishman Pharmaceuticals and Chemicals is the global outsourcing partner for the pharmaceutical industry offering a portfolio of development, scale-up and manufacturing services. The products and services offered by the company spans from chemical development to commercial manufacture and supply of active pharmaceutical ingredients.
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