Strides settles up 8% after pact with Pfizer

MUMBAI: Pharma company Strides Arcolab on Thursday settled with a gain of little over 8 per cent at Rs 254.25 on the Bombay Stock Exchange, a day after the company entered into a pact with Pfizer to commercialise certain generic products in the US.

The shares of Strides Arcolab surged to an intra-day high of Rs 268.90 on the BSE during the market hours, a 14.44 per cent gain over its previous closing price.

On the National Stock Exchange the stock closed up 7.50 per cent at Rs 253 after touching an intra-day high of Rs 269.90.

A total of 1.04 crore shares of Strides Arcolab changed hands at the bourses.

Yesterday, the company and Pfizer entered into a collaboration under which, Pfizer would commercialise "off-patent sterile injectable and oral products in the US".

The first of the products commercialised under the new collaboration is expected to be launched this year.