Alembic was up 6.43 per cent to close at Rs 320.15 after the company announced that it has launched a new division for research and development services, BioArc Research Solutions, along with its website www.bioarcresearch.com.
The new division, manned by 150 scientists, will focus on providing contract research services to global research-based pharmaceuticals, according to sources. More than 27,807 shares were traded on the BSE.
The Vadodara-based drug company is also planning expansion for its bulks drugs business to the highly regulated US market by joining hands with certain US-based formulators.
To initiate this, the company has filed four drug master files (DMF) with the US FDA and it is planning to file more such applications with the US-based drug authority in the next two-three years.
The company is also in the process of filing DMFs with the health authorities in various other regulatory markets for potential drugs that will go off-patent in developed countries during the next four to five years.
