RPG Life Share Price Shines in New Light

Today, Drug firm RPG Life Sciences signed a contract with Sunpharma to acquire seven prescription brands from the company for Rs 41 crore. This contract has taken RPG life share price and share volume to a new height. RPG life share price saw a surge of over 8% while the volume went up over 2.4 times.

RPG life informed during the BSE filing that the company signed an agreement to acquire seven prescription brands from Sun Pharmaceutical Industries Ltd together with its subsidiaries.

The move is in accordance with the company’s strategy to focus on formulation business. The obtained brands are principally in respiratory and urology segments. Additionally, three products will compliment the company’s existing range.

Commenting on the development, RPG Life Sciences MD CT Renganathan said that historically, the company has invested in in-licensing product and this is the first time that the company have made a brand acquisition. The company believes these brands have a huge potential to grow and are a perfect fit to its current portfolio and in line with the long-term growth strategy. This deal is subject to receipt of Competition Commission of India’s (CCI) approval, RPG Life Sciences.

The company also declared their collaboration with US-based API firm Biophore for developing, filing and commercializing products specifically targeting the US market. As the part of the tie-up, Biophore will develop, manufacture and file finished dosage formulations (DMF) for the APIs while RPG Life Sciences shall develop, manufacture, file and commercialize these products from its manufacturing facility for regulated markets, RPG Life Sciences said.

The company will also co-join Biophore for the development of niche products for the US market. To start with, the company will begin with four projects which shall be achieved in two phases of two products each. The company also informed that theywill own the ANDA for these products in the US market while exploring the potential for these products in the other regulated markets with Biophore.

Market Watch :

Today, the announcement led to a magnanimous rise of 8% in the RPG life share price. The stock was trading at Rs. 381.50. The stock has also made the new lifetime high and 52 weeks high of Rs. 388.80. For more details about the stock, visit the RPG share price history page of Dynamic levels. Also, the stock is identified by Dynamic Levels among top 500 performers. To check the support and resistance level of RPG life Share price, refer to the Ladder on the RPG life share price forecast page of the website.