Hikal signs agreement with Alpharma Inc, USA

Hikal Ltd has announced that the Company has signed a mutually exclusive long-term agreement with Alpharma Inc., a US based global specialty pharmaceutical Company for manufacture and supply of an Active Pharmaceutical Ingredient (API) for the Veterinary sector.

The Company will be manufacturing the API at its USFDA approved plant at Jigani, Bangalore. The total value of the contract is estimated to be Rs 200 crores approx.

The stock was trading at Rs.506.90, up by Rs.34 or 7.19%. The stock hit an intraday high of Rs.509.85 and low of Rs.480.30. The total traded quantity was 31140 compared to 2 week average of 12183.

Source : Equity Bulls

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