Pharma stock rises 4% after it acquires stake in Immuno ACT; Check the details

With a market capitalization of ₹ 18,429 crores, Laurus Labs (NS: LAUL ) Pvt. Ltd shares surged 4 % on Thursday to reach an intraday high of ₹ 345 apiece from the previous close price of ₹ 331.

This happened after this company disclosed that it has signed definitive agreements to exchange ₹ 80 crore in cash for an additional 7.24% share in the advanced cell and gene therapy company Immuno Adoptive Cell Therapy Pvt Ltd (Immuno ACT). The stake will jump to 33.86% after the acquisition is finalized.

This fresh infusion of capital will enable Immune ACT to fast-track the additional supply of the lead candidate HCAR-19 along with the further expansion of the multi-location GMP facilities for manufacturing Chimeric Antigen Receptor T cells (CAR-T cells) treatment and the new investment will also assist in setting up to provide more patients throughout India at a reasonable cost. as per BSE filing.

Additionally, a company mentioned that a few Laurus Labs promoters and senior management will purchase a 0.54% share in Immune ACT through secondary purchases for about ₹ 4 crores (prior to this investment) at the same price and terms.

Laurus Labs Pvt. Ltd. is engaged in developing, and manufacturing pharmaceutical ingredients for the global pharmaceutical industry. The company has been granted 184 Patents, 73 Drug Master Files, and 60+ products commercialized since its inception.

According to consolidated financials, the company’s net profit dipped from 203 crore in Q3 to 107 crore in Q4. Additionally, operating revenue fell to ₹ 1,380 crores from ₹ 1,544 crores in the same preceding quarter.

On a YoY comparison of the metrics, the revenues significantly improved from ₹ 4,935 crores during FY 21-22 to ₹ 6,040 crores in FY 22-23. Similarly, for the same timeframe, The PAT numbers decreased from ₹ 832 crores to ₹ 796 crores.

In the previous month, the stock rose from ₹ 311.60 to current levels with a return of 11.41 percent, and in the last three years, the stock has gained from ₹ 94.21 to current levels with a return of 268.71 percent.

According to the latest shareholding pattern, promoters of the company hold a 27.2 percent stake, and Foreign institutional investors (FIIs) hold a 22.42 percent stake in the company for FY 22-23.

Written by Omkar C

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