PI Drugs & Pharmaceuticals jumped 14.02% to Rs 37 at 12:41 IST on BSE, after the company said on Tuesday, 16 September 2008, it is acquiring the bio-pharmaceutical business of Strides Italia s.r.l known by its trademark Diaspa from Strides Arcolab.
The company made this announcement after trading hours on Tuesday, 16 September 2008.
The stock hit a high of Rs 38 and a low of Rs 30.60 so far during the day. The stock has a 52-week high of Rs 92 on 2 January 2008 and a 52-week low of Rs 26.50 on 16 September 2008.
The company’s current equity is Rs 11.09 crore. Face value per share is Rs 10.
The current price of Rs 37 discounts Q1 June 2008 annualized EPS of Rs 1.48, by a PE multiple of 25.
Diaspa's site has been inspected and qualified by the European and US Food & Drug Administration (USFDA) authorities for good manufacturing products (GMP).
PI Drugs & Pharmaceuticals’ net profit fell 64.7% to Rs 0.41 crore on 109% increase in net sales to Rs 23.28 crore in Q1 June 2008 over Q1 June 2007.
PI Drugs & Pharmaceuticals is a manufacturer exporter of specialized quality formulations having an objective of fulfilling the diverse demands of pharmaceutical industry.
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