Astrazeneca Pharma India Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Small Cap

However, AstraZeneca will retain the intellectual property rights to budesonide and formoterol fumarate dihydrate (inhaled corticosteroid (ICS) and long-acting beta-agonist (LABA) combination) and will continue to be the marketing authorisation holder (MAH) and import license.

According to agreement Mankind Pharma will distribute and promote the product Symbicort for a period of 5 years in India. It will also pay Rs 15 crore to AstraZeneca, as per the distribution and promotion agreement.

Dr. Sanjeev Panchal, managing director and country president of AstraZeneca India said, “The partnership with Mankind Pharma presents an opportunity to accelerate access and maximize the potential of our asthma drug as well as the turbuhaler which is a simple device, efficient in consistently delivering a higher proportion of respirable particles than the other devices.”

Atish Majumdar, senior president of sales & marketing at Mankind Pharma said, “We are excited to partner with AstraZeneca to make their innovative therapy flagship brand Symbicort, a global standard in treating Asthma. Symbicort's dual mechanism of action and ease of use in a single inhaler can greatly help patients manage these conditions and improve their quality of life. Through our field forces’ extensive outreach, we hope to strengthen access across urban and rural markets.”

AstraZeneca Pharma India is engaged in the business of manufacture, distribution and marketing of pharmaceutical products and also provides clinical trial services to an overseas group company.

Mankind Pharma is engaged in manufacturing of pharmaceutical formulations. The company is one of the leading manufacturers of prescription medicines.

Shares of AstraZeneca Pharma India declined 1.25% to Rs 5,286.10 while Mankind Pharma slipped 0.53% to Rs 2,150.75 on the BSE.

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AstraZeneca Pharma India and Mankind Pharma entered into an agreement for exclusive distribution of AstraZeneca's budesonide and formoterol fumarate dihydrate (inhaled corticosteroid (ICS) and long-acting beta-agonist (LABA) combination) brand Symbicort in India. AstraZeneca will retain the intellectual property rights to budesonide and formoterol fumarate dihydrate and will continue to be the Marketing Authorisation Holder (MAH) and import license.

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MSTC Ltd, Power Finance Corporation Ltd, KIOCL Ltd and Rail Vikas Nigam Ltd are among the other losers in the BSE's 'A' group today, 09 February 2024.

Astrazeneca Pharma India Ltd crashed 13.31% to Rs 5699.95 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 19664 shares were traded on the counter so far as against the average daily volumes of 1892 shares in the past one month.

MSTC Ltd lost 10.28% to Rs 989.75. The stock was the second biggest loser in 'A' group.On the BSE, 1.38 lakh shares were traded on the counter so far as against the average daily volumes of 1.62 lakh shares in the past one month.

Power Finance Corporation Ltd tumbled 9.50% to Rs 423.95. The stock was the third biggest loser in 'A' group.On the BSE, 14.45 lakh shares were traded on the counter so far as against the average daily volumes of 8.36 lakh shares in the past one month.

KIOCL Ltd fell 7.95% to Rs 424.65. The stock was the fourth biggest loser in 'A' group.On the BSE, 1.46 lakh shares were traded on the counter so far as against the average daily volumes of 64056 shares in the past one month.

Rail Vikas Nigam Ltd dropped 7.95% to Rs 259.3. The stock was the fifth biggest loser in 'A' group.On the BSE, 48.9 lakh shares were traded on the counter so far as against the average daily volumes of 48.98 lakh shares in the past one month.

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Revenue from operations jumped 22.41% to Rs 305.78 crore during the quarter as compared with Rs 249.81 crore posted in corresponding quarter last year.

Profit before tax stood at Rs 20.39 crore in Q3 FY24, down 48.3% YoY as compared to Rs 39.45 crore posted in Q3 FY23.

Total expenses jumped 35.62% to Rs 295.04 crore in Q3 FY24 as compared with Rs 217.54 crore in Q3 FY23. Cost of material consumed was at Rs 37.51 crore (up 38.42% YoY) employee benefit expenses was at Rs 63.23 crore (up 0.88% YoY) and selling marketing & distribution expenses was at Rs 28.35 crore (up 36.43% YoY) during the period under review.

AstraZeneca Pharma India is engaged in the business of manufacture, distribution and marketing of pharmaceutical products and also provides clinical trial services to an overseas group company.

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