Caplin Point Laboratories Limited (BSE: CAPPL (524742), NSE: CAPLIPOINT) announced that Caplin Steriles Limited (a Subsidiary of Caplin Point Laboratories Ltd) has entered into a private label distribution agreement with Xellia Pharmaceuticals for five generic injectable ANDAs in the US. The first product is expected to be launched shortly, while approvals for the remaining are expected in the next 12-18 months.
Commenting on the transaction, Mr C.C.Paarthipan, Chairman, Caplin Point Laboratories Limited, said: "We're happy to announce this partnership with Xellia, a company with a long standing track record of commercial success in the US for injectable products. These ANDAs are under Caplin Steriles name and Xellia will be commercializing them in the US."
Peter Karas, Xellia's Vice President Global Business Development added "Xellia is excited to partner with Caplin Steriles on this portfolio of products as we continue to expand our injectable portfolio and commercial presence in the US market. Caplin Steriles' focus on these essential medicines and their robust supply chain fits well with our track record of providing a consistent supply and growing list of essential medicines to patients in the US."
Shares of CAPLIN POINT LABORATORIES LTD. was last trading in BSE at Rs.340.65 as compared to the previous close of Rs. 339.55. The total number of shares traded during the day was 22339 in over 1454 trades.
The stock hit an intraday high of Rs. 345.7 and intraday low of 335.9. The net turnover during the day was Rs. 7619808.