 "Akums Drugs hits 10% upper circuit; gains 12% in two days; here's why")
Akums Drugs and Pharmaceuticals shares clocked a 10 per cent upper circuit on BSE, at Rs 668.10 per share. The scrip gained for the second straight session after the company entered into a 200 million euro (Rs 1,760 crore) partnership with a global pharmaceutical major to manufacture and supply a range of pharmaceutical formulations for the European market. In two trading sessions, the stock soared 12 per cent.
Around 11:28 AM, Akums Drugs & Pharmaceuticals Ltd share price was up 9.63 per cent at Rs 666 per share on BSE. In comparison, the BSE Sensex was up 0.48 per cent at 78,849.35. The market capitalisation of the company stood at Rs 10,438.37 crore. The 52-week high of the stock stood at Rs 1,174.85 per share and the 52-week low stood at Rs 527 per share.
Under the agreement, Akums will receive a payment of 100 million euro (Rs 880 crore) upfront to support product development and secure European regulatory approvals for its oral liquid manufacturing facility.
The collaboration involves the production of multiple Stock Keeping Units (SKUs) of oral liquid formulations at Akums’ manufacturing facilities in India, which will be marketed by the partner company across various European countries.
Also Read
This partnership aligns with Akums’ long-term strategic objective of strengthening its presence in Europe and other regulated markets while supporting the Indian government’s ‘Make in India’ initiative by boosting domestic manufacturing capabilities for global markets.
Akums Drugs & Pharmaceuticals Ltd. is a leading contract research and manufacturing organization (CRAM) in India, specializing in pharmaceutical and nutraceutical products. Established in 2004 and headquartered in New Delhi, the company manufactures a wide range of formulations, including tablets, capsules, injections, syrups, ointments, and nutraceuticals, catering to various therapeutic areas such as cardiology, dermatology, and diabetology.
With WHO-GMP, United States Food and Drug Administration (USFDA), and EU-certified facilities, Akums partners with over 500 pharmaceutical companies globally, providing customized solutions. Known for its strong focus on research and development, Akums drives innovation in drug formulations and delivery systems, making it a trusted name in the healthcare industry.