Shares of Lupin rose 1 percent intraday Thursday as company entered into definitive distribution agreement with Aptissen S.A.
Lupin and Aptissen S.A. entered into a definitive distribution agreement under which Aptissen has granted Lupin the exclusive rights to market, distribute and sell the current Aptissen products in Canada, company said in BSE filing.
This includes immediate rights to distribute Synolis VA for the treatment of Osteoarthritis.
Synolis VA (Visco-Antalgic) is the intra-articular injection product for osteoarthritis with a unique combination of Hyaluronic Acid and high concentration of Sorbitol. Synolis VA 40/80 is already approved by Health Canada and an additional strength is currently under review.
Sofia Mumtaz, President of Lupin Pharma Canada said, “This partnership helps us expand our product portfolio in the Canadian market. We remain committed to bring superior medical products and leverage our distribution strength to allow easy access to specialty medicines in the market.”
At 11:58 hrs Lupin was quoting at Rs 854.25, up Rs 3.15, or 0.37 percent on the BSE.