During Tuesday’s trading session, the shares of a company engaged in the manufacturing and marketing of pharmaceutical formulations surged nearly 11 percent on BSE, after the company announced signing an agreement with Denmark-based XGX Pharma for products to be marketed in the European market.
Price Movement:
With a market cap of Rs. 629.4 crores, at 02:08 p.m., the shares of Medicamen Biotech Limited were trading in the green at Rs. 495, up by nearly 7.5 percent, as compared to its previous closing price of Rs. 460.7.
The stock has delivered positive returns of nearly 14 percent in the last one year, as well as gained around 11 percent in the last one month.
What’s the News:
As per the latest regulatory filings with the stock exchanges, Medicamen Biotech Limited has announced the signing of a Distribution Agreement with Denmark-based XGX Pharma for three products to be marketed in the European market. Under the terms of the agreement, Medicamen will hold the Marketing Authorizations for all three products.
The products include two oncology formulations—Temozolomide Capsules 250 mg and Bortezomib 3.5 mg Injection (1 vial)—as well as one Beta-lactam formulation: Amoxicillin Oral Dispersible Tablets 250 mg.
Previous Updates:
7th March: Medicamen Biotech entered into an agreement with a prominent South African business conglomerate to register and market its products in the region. South Africa, categorized as a regulated pharmaceutical market, represents a $4 billion opportunity.
3rd April: The company signed a CDMO (Contract Development and Manufacturing Organization) agreement with XGX Pharma, under which Medicamen will develop and manufacture 6 products for the European market. In this arrangement, XGX Pharma will retain the Marketing Authorizations.
Financials:
Medicamen Biotech reported a marginal decline in revenue from operations, experiencing a year-on-year fall of nearly 3 percent, from Rs. 46.5 crores in Q3 FY24 to Rs. 45.2 crores in Q3 FY25.
In contrast, its net profit increased during the same period from Rs. 2.03 crores to Rs. 3 crores, representing a growth of nearly 48 percent YoY.
About the company:
Established in 1993, Medicamen Biotech Limited is engaged in the business of generic finished dosage forms (FDF), oncology formulations and research & development services to cater to the needs of the global pharmaceutical industry. It has vertically integrated facilities in terms of R&D, APIs and formulations.
The company now focuses on oncology therapeutics & other generics with a vision to be a Global Leader in Oncology generics.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
