What's Going On With These 2 Healthcare Stocks Today After Striking Exclusive Deal

Shares of two listed healthcare companies were seeing mixed fortunes on Wednesday after they struck an exclusive partnership.

What Happened: Sanofi India and Cipla late on Tuesday announced an exclusive partnership aimed at enhancing access to Sanofi’s Central Nervous System (CNS) medications throughout India.

Under this partnership, Cipla will use its extensive distribution network to distribute Sanofi’s CNS portfolio, which includes Frisium, an anti-epileptic drug. However, Sanofi will maintain ownership, import and manufacturing of the CNS products.

See Also: Global Analyst Picks 2 Stocks For Gains From This Unlikely Industry

"Cipla's wide presence will enable us to expand the reach of this portfolio to healthcare professionals and patients across all India," Rodolfo Hrosz, managing director of Sanofi India, said on the deal.

Achin Gupta, CEO of Cipla’s One India Business, said the collaboration with Sanofi India would aid in imporving accessibility to useful solutions in CNS and bring value to patients across the country. “Central Nervous System is one of the most challenging areas in medicine, and we believe this partnership is a significant step forward to address unmet needs of patients," he said.

Price Action: Sanofi India’s shares were up 2.43% at ₹7,895.60 near the start of trade on Wednesday while Cipla’s share price was trading almost flat at ₹1,473.70.

Read Next: Bajaj Finance Jumps Over 2% To Lead Nifty 50 Gainers

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
Posted In: EquitiesNewsContractsMarketsMoversTrading IdeasCiplaSanofi

Loading...