Shilpa's CDMO customer reported positive results from pivotal clinical trial & placed binding purchase order

Shilpa Medicare Limited's (SML) CDMO customer, Unicycive Therapeutics, Inc. (NASDAQ:UNCY) has reported positive results from pivotal clinical trial of Oxylanthanum Carbonate (OLC), a NCE molecule with potential treatment for hyperphosphatemia in chronic kidney disease patients which has several benefits for various patients in this chronic disease. Unicycive is expected to file the New Drug Application for OLC by mid-2024 with potential approval by mid-2025.

SML has partnered with Unicycive to provide end-to-end CDMO services right from development & supply of APIs to finished dosage form. Based on the outcome of the pivotal clinical studies, Unicycive has entered into long term manufacturing and supply agreement with SML and agreed to place a binding purchase order for supply of OLC tablets by June 30, 2025. Additionally, Unicycive has agreed to place orders for additional tablets to be delivered between December 31, 2025, and June 30, 2026.

Apart from the supply arrangement, SML is expected to receive US$ 10 million as milestone income spanning over filing, approval and launch of the product. Additionally, in anticipation of increased product demand Unicycive will also fund the establishment of new manufacturing block at Shilpa's site.

For SML, this is a significant milestone which establishes the credentials of the Shilpa group as a one-stop reliable partner for all the CDMO requirements of global pharma companies providing development, manufacturing, supply, and other chemistry, and controls (CMC)-related services.

Shares of Shilpa Medicare Limited was last trading in BSE at Rs. 578.15 as compared to the previous close of Rs. 584.60. The total number of shares traded during the day was 13864 in over 1017 trades.

The stock hit an intraday high of Rs. 588.30 and intraday low of 570.50. The net turnover during the day was Rs. 8069768.00.

Source : Equity Bulls

Keywords

ShilpaMedicare INE790G01031 CDMOCustomer UnicyciveTherapeutics UNCY PositiveResulta ClinicalTrial OxylanthanumCarbonate CKD