Ranbaxy Laboratories jumped 5.21% to Rs 493.90 at 15:10 IST on BSE after the company said it has singed drug discovery & development agreement with US based Merck & Co for discovering new products in the anti-infective segment.
The stock hit a high of Rs 497 and a low of Rs 463.20 so far during the day. The stock had a 52-week high of Rs 501 on
The company’s current equity is Rs 186.62 crore. Face value per share is Rs 5.
The current price of Rs 493.90 discounts its Q4 March 2008 annualised EPS of Rs 11.09, by a PE multiple of 44.54.
Ranbaxy Laboratories will carry out drug discovery and clinical developments, whereas Merck will take care of the development and commercialization of drugs. Under the agreement, Ranbaxy will be paid an undisclosed upfront sum and it is also eligible to receive significant royalties on worldwide net sales of any products commercialized under the agreement. The collaboration will begin this year with an initial term of five years and can be extended thereafter.
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In February 2008, RLL received approval from the US Food and Drug Administration to manufacture and market cefuroxime axetil for oral suspension in
RLL’s net profit declined 10.3% to Rs 103.42 crore on 0.1% fall in net sales to Rs 987.29 crore in Q1 March 2008 over Q1 March 2007.
Ranbaxy Laboratories is
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