Shasun Chemicals signs technology licensing Agreement with Lundbeck

Shasun Chemicals & Drugs Ltd on July 10, 2007 has announced that it's wholly-owned UK-subsidiary Shasun Pharma Solutions Ltd has entered into a non-exclusive licensing agreement with H Lundbeck A/S, a research based Danish Company engaged in finding new drugs for treatment of CNS (Central Nervous System) disorders.

Under the terms of the agreement, Shasun Pharma grants H Lundbeck A/S the use of its proprietary cross-coupling technology (also known as Buchwald technology) to manufacture and commercialise new APIs (Active Pharmaceutical Ingredients). The Buchwald cross-coupling technology is one of the most referred to technologies in the pharmaceutical area allowing increasing complex new drugs to be manufactured in a more straightforward and economical way.

Mr. Govindarajan, CEO and MD of the Company added, "This is yet another example of Shasun's flexibility in dealing with the management of its intellectual Property and making sure that it services its customer first".

The stock closed the day at Rs.138.50, down by Rs.1.80 or 1.28%. The stock hit an intraday high of Rs.146.90 and low of Rs.135.90. The total traded quantity was 154837 compared to 2 week average of 58957.

Source : Equity Bulls

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