Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Alembic Pharmaceuticals Shares Jump 3.5% After Signing Pacts to Enter China

Alembic Pharma has signed a joint venture with SPH SINE Pharmaceutical Laboratories Co Ltd and Adia (Shanghai) Pharmaceuticals Co Ltd to promote and sell pharmaceutical products for the Chinese market.

Trending Desk

Updated:May 8, 2019, 3:35 PM IST
facebookTwitterskypewhatsapp
Alembic Pharmaceuticals Shares Jump 3.5% After Signing Pacts to Enter China
Representative Image (Photo Credit: AFP)

Alembic Pharmaceuticals Ltd shares jumped as much as 3.5 per cent in early trade on Wednesday after the company said it has entered into a joint venture (JV) agreement with Chinese companies to foray into China, the world’s second largest drug market after the US.

Alembic Pharmaceuticals is also going to announce its March quarter earnings later in the day. According to Motilal Oswal, Alembic Pharmaceuticals is likely to report 2.6 per cent fall in its Q4 net profit to Rs 91.3 crore, while sales are expected to rise 10.8 per cent year-on-year to Rs 945.2 crore. The stock was trading at Rs 555, up 1 per cent, at 11:45 am on BSE after trimming its early gains.

Alembic Pharma has signed a joint venture with SPH SINE Pharmaceutical Laboratories Co Ltd and Adia (Shanghai) Pharmaceuticals Co Ltd to promote and sell pharmaceutical products for the Chinese market, as per the company’s filing on BSE.

SPH Sine will be the biggest stakeholder in the joint venture with 51 per cent stake, Alembic will hold 44 per cent share, while Adia will hold 5 per cent equity.

The JV will initially commercialize products manufactured by Alembic Pharmaceuticals in China and later plans to set up a manufacturing facility in the country. It plans to start operations in China by launching a portfolio of oral solids and is then expected to foray into other areas like injectables, ophthalmology, dermatology and oncology.

The registered capital of the new company will be 1 million Chinese yuan (approximately Rs 1 crore). The agreement was signed at Alembic Pharmaceuticals’s Vadodara headquarters.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
BPCL 515.40 5.12
Bajaj Finance 3,998.15 3.06
Reliance 1,372.45 0.61
Infosys 772.80 0.59
MCX India 1,067.05 5.06
Company Price Change %Gain
Ajanta Pharma 958.00 0.35
BPCL 515.25 5.10
Indiabulls Hsg 192.00 1.56
MCX India 1,067.25 4.98
Castrol 135.95 1.64
Top Gainers
Company Price Change %Gain
Zee Entertain 263.45 5.09
BPCL 515.40 5.12
Grasim 727.05 3.32
Bajaj Finance 3,998.15 3.06
Wipro 250.15 2.67
Company Price Change %Gain
Bajaj Finance 3,995.00 2.96
Yes Bank 41.25 1.60
ICICI Bank 437.35 1.31
Bajaj Auto 3,032.50 0.77
Infosys 772.95 0.67
Top Losers
Company Price Change %Gain
Vedanta 150.30 -2.08
Adani Ports 406.30 -1.80
Hindalco 189.20 -1.74
Cipla 439.65 -1.55
GAIL 126.15 -1.52
Company Price Change %Gain
Vedanta 150.25 -2.09
M&M 578.10 -1.11
Power Grid Corp 198.70 -1.32
ITC 244.50 -1.21
Hero Motocorp 2,648.25 -1.04

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results