AstraZeneca Pharma India Limited and Sun Pharma enter into transition supply agreement

AstraZeneca Pharma India Limited had earler announced about the Distribution Services Agreement entered into between AstraZeneca Pharma India Limited (AstraZeneca India) and Sun Pharma Laboratories Limited (Sun Pharma) for the distribution of Dapagliflozin, an innovative Type 2 diabetes medicine, in India. Under the said Agreement, Sun Pharma promoted and distributed Dapagliflozin under the brand name "Oxra®". Sun Pharma also gained the rights to promote and distribute the combination of Dapagliflozin with Metformin under the brand name "Oxramet®" and the combination of Dapagliflozin and Saxagliptin under the brand name "Oxraduo®".

AstraZeneca India and Sun Pharma have discontinued its existing Distribution Services Agreement signed in 2016 by entering into a Transition Supply Agreement with effect from 28th May 2021. Under the Transition Supply Agreement, Sun Pharma will continue to promote and distribute Dapagliflozin and the combinations of Dapagliflozin with Metformin under the brand Oxra and Oxramet until such period of time as mutually agreed between the parties, post which all supplies to Sun Pharma from AstraZeneca India shall cease.

AstraZeneca India will continue to independently market Dapagliflozin, the combinations of Dapagliflozin and Metformin as well as Dapagliflozin and Saxagliptin in India under the brand names "Forxiga®" "Xigduo®" and "Qtern®" respectively.

Shares of ASTRAZENECA PHARMA INDIA LTD. was last trading in BSE at Rs.3807.9 as compared to the previous close of Rs. 3890. The total number of shares traded during the day was 2664 in over 695 trades.

The stock hit an intraday high of Rs. 3899 and intraday low of 3791.25. The net turnover during the day was Rs. 10191105.

Source : Equity Bulls

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