Medicamen Biotech Ltd saw its shares jump 8% after announcing a major contract development and manufacturing organization (CDMO) deal with XGX Pharma, a European pharmaceutical company.
As part of this agreement, Medicamen Biotech will develop and manufacture six pharmaceutical products for XGX Pharma, while the European firm will hold the market authorization (MA) for these products. This collaboration strengthens Medicamen’s presence in the global pharmaceutical sector and reinforces its expertise in drug manufacturing.
In the exchange filing, the company shared, “Medicamen is pleased to announce that it has signed a contract for CDMO with XGX pharma, European company where Medicamen will develop 6 products and will do manufacturing of these products for European company. XGX will hold MA (Market authorisation)”
Medicamen Biotech shares opened at ₹485.55 today, fluctuating between a high of ₹529.00 and a low of ₹483.75. The stock remains below its 52-week high of ₹630.00 but above its 52-week low of ₹375.05.
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