Laurus Labs soars on partnership with Global Fund

Hyderabad-based Laurus Labs, a leading R&D-driven pharmaceutical company in India, has entered into a strategic partnership agreement with Global Fund for the tenure of 3.5 years.

Under this agreement, Laurus Labs will have the volume commitments from the Global Fund for the treatment of HIV/AIDS.

As on December 31, 2018, the company has filed 234 patent applications, out of which 73 patents have been granted.

Considering the recent quarter Q3FY19, the revenue from operations increased by 10.6 per cent on a YoY basis. The operating profit declined by 8.3 per cent on YoY basis and PAT declined by 49 per cent on YoY basis.

The company’s Q3FY19 revenue mix comprised of ARV (60 per cent), HEP-C (4 per cent), oncology (11 per cent), other APIs (9 per cent), synthesis (10 per cent), ingredients (2 per cent) and generics FDF (4 per cent).

Cheering this partnership announcement, the stock soared by 6 per cent and made an intra-day high of Rs. 396.70 and finally closed at Rs 388.60 on the BSE. The stock had hit its 52-week high of Rs 520 on April 3, 2018 and 52-week low of Rs 324 on February 18, 2019 on the BSE.