Ipca Laboratories Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Small Cap

Ipca Laboratories announced that Lyka Labs has allotted to the company 26 lakh equity shares of Rs 10 each representing 7.28% share capital at Rs 139.50 per share including a premium of Rs 129.50 per equity share on conversion of warrants allotted on preferential basis. With this allotment, Ipca Laboratories' shareholding in Lyka Labs is 1,46,24,923 equity shares of Rs. 10/- each representing 40.98% of its paid-up equity share capital, up from 36.34%.

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Omexa Formulary Private is at the forefront of biosimilar innovation, dedicated toproducing high-quality alternatives to brand-name biologics through scientific excellence,unwavering commitment and technological innovation.

Under this agreement, the company will grant to Omexa a non-exclusive right to research, develop, manufacture and market a anti-cancer biosimilar for global market.

This agreement shall enable Omexa to develop this anti-cancer biosimilar from early stage of development to clinical trials and subsequent commercial launch. This agreement will also strengthen Omexa's capability of biosimilar development.

Pranay Godha, managing director and CEO, IPCA, said, “This collaboration with Omexa Formulary, an innovation driven and fast-growing biotech company, shall facilitate Omexa to build a solid foundation for potential anti-cancer and anti-inflammatory monoclonal antibody product development. This collaboration with Omexa in turn shall also help lpca in the development and delivery of affordable and quality biologic medication for the treatment of chronic illnesses in the global market - a presently unmet and crucial clinical need. lpca is committed to successfully develop quality and affordable biosimilars meeting global standards and gain a decisive edge in the battle against chronic ailments.”

Dr. Nate Ramanathan, managing director & CEO of Omexa Formulary, said, “This collaboration with lpca, a most reliable and trusted pharmaceutical company shall facilitate Omexa the availability of expertise and technology for the biosimilars development work and ensuring that Omexa play its part in serving our core values of affordable access to quality biologic drugs for a large population through our pioneering methods in R&D and manufacturing development.”

Ipca Laboratories is an Indian multinational pharmaceutical company. It produces theobromine, acetylthiophene, and p-bromotoluene as active pharmaceutical ingredients (APIs). Ipca sells these APIs and their intermediates globally.

The company’s consolidated net profit jumped 66.8% to Rs 179.88 crore on 32.8% increase in net sales to Rs 2052.86 crore in Q3 FY24 over Q3 FY23.

The scrip rose 0.44% to Rs 1,206.35 on the BSE.

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Ipca Laboratories Ltd gained for a fifth straight session today. The stock is quoting at Rs 1204.7, up 0.32% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.7% on the day, quoting at 22159.1. The Sensex is at 73016.66, up 0.75%. Ipca Laboratories Ltd has risen around 1.38% in last one month.

Meanwhile, Nifty Pharma index of which Ipca Laboratories Ltd is a constituent, has risen around 0.35% in last one month and is currently quoting at 18809.45, up 0.35% on the day. The volume in the stock stood at 1.95 lakh shares today, compared to the daily average of 3.22 lakh shares in last one month.

The benchmark March futures contract for the stock is quoting at Rs 1206.5, up 0.16% on the day. Ipca Laboratories Ltd is up 52.2% in last one year as compared to a 30.72% spurt in NIFTY and a 58.98% spurt in the Nifty Pharma index.

The PE of the stock is 55.35 based on TTM earnings ending December 23.

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Ipca Laboratories Ltd is up for a third straight session today. The stock is quoting at Rs 1198.8, up 2.1% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.36% on the day, quoting at 22091.6. The Sensex is at 72819.71, up 0.25%. Ipca Laboratories Ltd has slipped around 1.55% in last one month.

Meanwhile, Nifty Pharma index of which Ipca Laboratories Ltd is a constituent, has slipped around 1.44% in last one month and is currently quoting at 18582.6, up 1.03% on the day. The volume in the stock stood at 4.87 lakh shares today, compared to the daily average of 2.67 lakh shares in last one month.

The benchmark March futures contract for the stock is quoting at Rs 1198.1, up 2.18% on the day. Ipca Laboratories Ltd is up 52.83% in last one year as compared to a 29.37% jump in NIFTY and a 59.35% jump in the Nifty Pharma index.

The PE of the stock is 54.06 based on TTM earnings ending December 23.

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