Business Daily from THE HINDU group of publications
Tuesday, Jul 10, 2007
ePaper
Business Daily from THE HINDU group of publications Tuesday, Jul 10, 2007 ePaper |
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Corporate
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Alliances & Joint Ventures Hikal inks deal with US co for veterinary drug
Our Bureau Mumbai, July 9 Hikal Ltd has signed a mutually exclusive long-term agreement with Alpharma Inc, a US-based global specialty pharmaceutical company for the manufacture and supply of an Active Pharmaceutical Ingredient (API) for the veterinary sector. The company will manufacture the API at its US Food and Drug Administration-approved plant at Jigani, Bangalore. The total value of the contract is estimated to be Rs 200 crore, the company told the Bombay Stock Exchange. Last week, the company’s board of directors had recommended a final dividend at the rate of Rs 3.50 per share (35 per cent) on the equity share capital. The company had paid an interim dividend of 30 per cent, making the total dividend of 65 per cent for the year ended March 31, 2007, subject to the approval of the shareholders, the company had then told the BSE. Hikal shares closed up 13.41 per cent on the BSE, at Rs 536.30
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