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Emcure Pharma, Sanofi India shares edge higher; what's behind the move?
At 9:30 AM, the stock was quoting at ₹1,382.5, up 1.5 per cent from the previous day's close of ₹1,362.5. In comparison, the benchmark NSE Nifty50 index was trading marginally down by 15.5 points at 25,196.55 levels. The total market capitalisation of Emcure Pharmaceuticals stood at ₹26,216.58 crore.
Shares of Sanofi India also gained around 1.5 per cent to hit an intraday high of ₹5,975. At the time of writing, the stock was quoting 1.2 per cent higher at ₹5,956.5.
Emcure Pharmaceuticals and Sanofi India have entered a distribution and promotion partnership aimed at expanding access to Sanofi's oral anti-diabetic (OAD) products across India.
Effective immediately, Emcume will exclusively distribute and promote Sanofi's OAD range of products, including established brands like Amaryl and Cetapin.
However, Sanofi India will continue to own and manufacture these brands across Sanofi's plants in India and internationally.
"Emcure will leverage its strengths to engage healthcare professionals and expand the reach of these therapeutic solutions for patients who need them across all of India," the company said in an exchange filing.
"With our strong distribution network in India, Sanofi's trusted oral anti-diabetic medicines will be available to more patients who need them. This collaboration complements our existing diabetes portfolio, creating a comprehensive offering for the millions living with diabetes and supporting better diabetes care across the country,' said Satish Mehta, chief executive officer and managing director at Emcure Pharmaceuticals.
About Emcure Pharma
Headquartered in Pune, Emcure Pharmaceuticals is engaged in developing, manufacturing and globally marketing a broad range of pharmaceutical products. Emcure develops and manufactures a wide range of differentiated pharmaceutical products designed to improve patient health and well-being across several major therapeutic areas. Established in 1981, Emcure is ranked as the 12th largest pharma company in India in terms of domestic sales for MAT June 2024. The company has a presence in more than 70 countries globally, including Europe and Canada.
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