This mid-cap multibagger company invests in cell and gene therapy company ImmunoACT!
Through this collaboration, the company aims to bring CAR-T therapy to Indian patients at an affordable price, filling the gap in access to this novel treatment option.
Laurus Labs primarily focuses on providing an extensive and comprehensive range of Active Pharmaceutical Ingredients (API), which encompasses intermediates, Generic Finished Dosage Forms (FDF) and contract research services. These offerings are designed to meet the diverse requirements of the global pharmaceutical industry.
On May 31, 2023, Laurus Labs signed an investment agreement with ImmunoACT, acquiring an additional 7.24 per cent stake for approximately Rs 80 crore. Promoters and senior management of Laurus Labs will also acquire a 0.54 per cent stake for about Rs 4 crore. Previously, Laurus Labs acquired a 26.62 per cent stake in ImmunoACT. Following this investment, Laurus Labs' shareholding in ImmunoACT will reach 33.86 per cent.
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Laurus Labs' additional investment in ImmunoACT will enhance its position in the emerging field of research, particularly in CAR-T therapy. CAR-T therapy has shown significant success in the western world as a promising treatment option. However, this innovative technology is currently unavailable in India. Through this collaboration, the company aims to bring CAR-T therapy to Indian patients at an affordable price, filling the gap in access to this novel treatment option.
On Thursday, shares of Laurus Labs surged by 3.77 per cent and made an intraday high of Rs 345. It had a spurt in volume by more than 1.5 times.
The company delivered exceptional returns of 251 per cent over the past 3 years, while over the past 5 years, it provided remarkable returns of 242 per cent.
Investors should keep a close eye on this trending stock.