AstraZeneca Pharma India is currently trading at Rs. 1073.20, down by 67.30 points or 5.90% from its previous closing of Rs. 1140.50 on the BSE.
The scrip opened at Rs. 1120.00 and has touched a high and low of Rs. 1120.00 and Rs. 1050.00 respectively. So far 12,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1348.00 on 12-Jan-2016 and a 52 week low of Rs. 995.40 on 09-Aug-2016.
Last one week high and low of the scrip stood at Rs. 1146.95 and Rs. 1050.00 respectively. The current market cap of the company is Rs. 2,683.00 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 12.35% and 12.65% respectively.
AstraZeneca Pharma India has received a notice of termination from AstraZeneca UK, conveying its decision for termination of distribution arrangements for Meronem in India. This is as a result of a global agreement by AstraZeneca PLC to sell the development and commercialization rights to Pfizer Inc, of its late-stage small molecule antibiotics business.
Meronem is a carbapenem anti-bacterial used for the treatment of serious infections in hospitalized patients. The transaction reinforces AstraZeneca’s focus on developing transformational medicines in its three main therapy areas viz., Cardiovascular and Metabolic Diseases, Respiratory and Oncology, while realizing value from the strong portfolio of established and late-stage antibiotics programs through Pfizer’s dedicated development and commercialization capabilities.
The current distribution arrangements for Meronem in India will terminate in six months from August 24, 2016.
AstraZeneca Pharma India is a global biopharmaceutical company. The company is engaged in the discovery, development and commercialization of medicines for core areas of healthcare, including cardiovascular/metabolic disease, cancer and respiratory, inflammatory and autoimmune disease. The company operates through two segments Healthcare and Clinical Trial.
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