Transgene Biotek was locked at 5% upper limit at Rs 75.70 at 13:34 IST on BSE, after the company signed a pact with Dr Reddy's Lab to manufacture a drug named, Orlistat which is used for treating obesity.
The company made this announcement after market hours on Thursday, 7 January 2010.
The stock hit a high of Rs 75.70 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 74 so far during the day. The stock hit a 52-week low of Rs 12 on 12 March 2009.
The company's equity capital is Rs 15.77 crore. Face value per share is Rs 10.
The current price of Rs 75.70 discounts the company's Q2 September 2009 annualized EPS of Rs 0.08, by a PE multiple of 946.25.
Transgene Biotek has entered into a licensing and technology transfer agreement with Dr Reddy's Laboratories for the out-licensing of a technology to manufacture Orlistat, Transgene Biotek said in a filing to the BSE.
Transgene Biotek's net profit fell 66.7% to Rs 0.03 crore on 14.6% decline in net sales to Rs 0.76 crore in Q2 September 2009 over Q2 September 2008.
The company is engaged in the research and development and manufacture of various medical reagents, both chemical and immuno-diagnostic reagents for the qualitative and quantitative estimation of bio-chemical parameters and diagnosis of diseases respectively.
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