India's Sakar Health up after deal with Swiss cos for oncology products

Sakar Healthcare

18/05/2023 08:09

** Shares of Sakar Healthcare Ltd  SAKA.NS  rise as much as
9.56% to 259.50 rupees, highest in nearly four months since Jan.
23
    ** Uptick after the pharmaceutical products maker enters
into an agreement with Swiss firms Ferring Pharmaceuticals and
Bazell Pharma LLP 
    ** Agreement to develop novel drug delivery system for two
oncology products, SAKA says in an exchange filing
    ** SAKA scaling up batches at its oncology
formulation-manufacturing unit in Gujarat, says initial outcomes
are encouraging
    ** Once the two products get regulatory approvals, Ferring
Pharma and Bazell Pharma intend to use them in oncology
facilities across the world
    ** Trading volume is 82,926 shares as of 12:31 p.m. IST, 5.4
times the 30-day avg 
    ** The relative strength index of the stock is 70,
suggesting it may be overbought - Refinitiv data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))