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Caplin Point Laboratories has entered into a license and distribution agreement with Cycle Pharmaceuticals Ltd, a UK-based company. According to the terms of the agreement, Caplin Point will be responsible for developing and manufacturing identified liquid injectable products with Cycle Pharmaceuticals holding the ANDA and commercialising the same in the US. This is a product specific agreement for the US market, and currently one product features in the contract. Caplin Point has already received milestone payment for one product and the product development-cum-dossier preparation have just commenced. Further developments, including financial impact will be updated to the exchanges from time to time, said Caplin Point in a statement to the exchanges. However, shares of Caplin Point tumbled about 5 per cent at ₹1,241.40 on the NSE.
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