Jubilant Organosys up 11% on research deal

MUMBAI: Shares of Jubilant Organosys were in demand on Tuesday after the pharmaceutical manufacturer signed a research deal with AstraZeneca for neuroscience-related drugs.

According to the deal, AstraZeneca will own the development and commercialisation rights for drugs developed under the collaboration with Jubilant Biosys and will fund the research for the initial five-year period, Jubilant said in a statement.

Jubilant will also receive milestone payments and royalties on successful sale of any drug. At 10:40 am, Jubilant shares surged 10.83 per cent to Rs 130 on the NSE.