This mid-cap multibagger Pharma company signs MOA with IIT Kanpur for novel gene therapy assets!
The company delivered exceptional returns of 251 per cent over the past 3 years.
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.
Laurus Labs has entered into a memorandum of agreement (MOA) with IIT Kanpur (IITK) to introduce innovative gene therapy assets to the market. Under the agreement, Laurus Labs will acquire the rights to certain gene therapy assets and provide a research grant to advance these products through pre-clinical development. The company will also fund clinical trials and launch these products in India and emerging markets.
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Furthermore, Laurus Labs will establish a GMP facility at IITK's Techno Park. The collaboration strengthens Laurus Labs' position in the promising Cell and Gene Therapy (CGT) field, allowing them to lead and offer affordable therapies to Indian patients. It also enables Laurus Labs to provide CDMO (Contract Development and Manufacturing Organisation) services to cell and gene therapy companies.
On Monday, shares of Laurus Labs plunged by 0.73 per cent from its previous close of Rs 367.6.
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.