Sun Pharma gains on JV to develop new drugs
The joint venture will leverage Sun Pharma’s global capabilities and experience in developing and manufacturing complex dosage forms and specialty pharmaceuticals for niche therapy areas.
By ET Online |
MUMBAI: Sun Pharmaceutical’s subsidiary and Intrexon have formed a joint venture to develop controllable gene-based therapies for treatment of ocular diseases that cause partial or total blindness.
The joint venture will leverage Sun Pharma’s global capabilities and experience in developing and manufacturing complex dosage forms and specialty pharmaceuticals for niche therapy areas.
“Through an exclusive channel collaboration, the joint venture will have access to Intrexon’s full suite of proprietary synthetic biology technologies, including the RheoSwitch Therapeutic System platform,” the company said in a press release.
Initial target for the JV will be to develop drugs for dry age-related macular degeneration, glaucoma and retinitis pigmentosa.
At 10:00 a.m.; the stock was at Rs 597.75, up 1.40 per cent, on the BSE. It touched a high of Rs 599.40 and a low of Rs 592 in trade today.
The joint venture will leverage Sun Pharma’s global capabilities and experience in developing and manufacturing complex dosage forms and specialty pharmaceuticals for niche therapy areas.
“Through an exclusive channel collaboration, the joint venture will have access to Intrexon’s full suite of proprietary synthetic biology technologies, including the RheoSwitch Therapeutic System platform,” the company said in a press release.
Initial target for the JV will be to develop drugs for dry age-related macular degeneration, glaucoma and retinitis pigmentosa.
At 10:00 a.m.; the stock was at Rs 597.75, up 1.40 per cent, on the BSE. It touched a high of Rs 599.40 and a low of Rs 592 in trade today.
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