/ AstraZeneca Zooms By 2.84% On Reports Of Granting Rights To Pfizer ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 19 January 2017

AstraZeneca Pharma has informed that the company has granted authority to Pfizer Limited for certain rights in relation to identified injectable antibiotic products through a delegation of authority (DoA).

The company has given authority to carry out activities of pricing and reimbursement negotiations, promotion, marketing, tendering, bidding and distribution in relation to the identified injectable antibiotics products. Pursuant to this, Meroneum IV Injection which is currently marketed in India by AstraZeneca Pharma is expected to be transitioned to Pfizer.

Following the announcement, the stock has surged by 2.84%, and is trading at Rs 996.40 or 27.55 points. AstraZeneca has delivered a negative return of -14.91% in a period of one year. The stock has underperformed the BSE Small-cap index and the BSE Healthcare index over a period of one year.

Astrazeneca Pharma India Ltd is currently trading at Rs 1013.55, up by Rs 44.6 or 4.6% from its previous closing of Rs 968.95 on the BSE. The scrip opened at Rs 981.9 and has touched a high and low of Rs 1025 and Rs 959 respectively. So far 38408(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2422.38 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 1314 on 11-Mar-2016 and a 52 week low of Rs 915 on 26-Dec-2016. Last one week high and low of the scrip stood at Rs 990 and Rs 950 respectively.

The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 11.86 % and 13.14 % respectively. The stock is currently trading above its 200 DMA.

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