Solar Pharmaceutical Industries on Wednesday introduced the acquisition of Canada-based Aquinox Prescription drugs (Canada) Inc for $8.2 million by way of its wholly-owned subsidiary Taro
Pharmaceutical Industries. In a regulatory submitting, Solar Pharma mentioned Aquinox Prescription drugs is a analysis and growth firm centered on pharmaceutical merchandise for the aim of their commercialisation. Shares in Solar Pharma climbed up practically 2 per cent in morning offers on Wednesday.
On the BSE, Solar Pharmaceutical Industries shares rose as a lot as 1.87 per cent to Rs 491.50 apiece after the announcement.
Solar Pharma mentioned that in August 2019, the goal firm’s guardian, Aquinox Prescription drugs, had merged with Neoleukin Therapeutics.
Previous to its merger with Neoleukin, Aquinox was a pharmaceutical firm discovering and growing novel therapeutics for situations marked by irritation, inflammatory ache, and blood cancers, it added.
At 10:34 am, the Solar Pharma inventory traded with a achieve of 1.52 per cent at Rs 489.85 apiece on the bourse, outperforming the benchmark S&P BSE Sensex index which was down 0.44 per cent amid unstable commerce.