Asia’s largest contract research & manufacturing organisation, Syngene International Ltd gains after the company entering into partnership with Herbalife Nutrition.
Shares of Syngene International rose 1.22% to Rs 495 at 12.00 noon on BSE after it announced that it has entered into a partnership with Herbalife Nutrition to establish nutrition research and development Lab in India. The announcement was made on 2 March 2017.
Herbalife a global nutrition company, on 2 March 2017 announced the launch of its first nutrition research and development Lab in India, partnered with Syngene. The strategic partnership will help Herbalife Nutrition develop and formulate world-class nutrition products for Indian consumers. Syngene International’s net profit grown to an extent of 11.54% to Rs 74.40 crore on 17.7% increase in net sales to Rs 323.80 crore in Q3 Dec 2016 over Q3 Dec 2015.
Alembic Pharma gains after launch of drug by partner. The company’s share price rose 2.29% to Rs 610.40 today after the company announced the launch of desvenlafaxine succinate extended-release tablets 50 mg and 100 mg by its partner. The announcement made during market hours today.