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Jubilant Life may shine as its arm enter tie-up to sell rheumatoid arthritis drug
Jubilant Radiopharma, a business unit of Jubilant Pharma, subsidiary of Jubilant Life Sciences, and Navidea Biopharmaceuticals, Inc on Monday announced signing up of a binding memorandum of understanding. The pact outlines the terms and framework for an Exclusive License and Distribution Agreement for Navidea’s diagnostic imaging agent Tilmanocept (technetium Tc 99m tilmanocept injection) in the US, Canada, Mexico, and Latin America.
In connection with the MoU, Jubilant Radiopharma also made a $1 million equity investment in exchange for a limited exclusivity period while final due diligence efforts are completed.
Tilmanocept, which is entering Phase 3 clinical trials for approval by the United States Food and Drug Administration, will enable Nuclear Medicine departments to visually and quantifiably localise and monitor activated macrophages in patients suspected of having rheumatoid arthritis.
Jubilant Radiopharma business is focused on developing, manufacturing, commercialising and distributing diagnostic and therapeutic radiopharmaceuticals.
Shareholders will closely monitor the developments.
Key results: Adani Ports, Central Bank, Bosch, PTC, Bajaj Electricals, Metropolis
Close to 100 companies will declare their quarterly results on Tuesday. Among them include AIA Engineering, Adani Ports and Special Economic Zone, Ashoka Buildcon, Astron Paper, Bajaj Electricals, Bosch, Capacite Infraprojects, Central Bank of India, Elecon Engineering, Galaxy Surfactants, Gujarat Alkalies, Honda Power, Indoco Remedies, Jyoti, KRBL, Metropolis, Motherson Sumi, Orient Green Power, Prataap Snacks, PTC, RCF, Shriram City Union Fin, Somany Ceramics, Star Cement, Suven, Symphony, Usha Martin and VST Tillers.
Minda Industries: Board meets for the rights issue
The board of directors of Minda Industries will meet on Tuesday to consider, discuss and decide, inter alia various matters in connection with the rights issue including the terms and conditions such as Issue price, rights entitlement ratio, record date, the timing of the rights issue and other related matters.
Shareholders and investors would be keen to know about the size, price and entitlement ratio. Currently, 29.21 per cent stake is being held by the public. Among them include, some 49,000 small retail investors holding 6.02 per cent stake in Minda.
MPS Ltd: Buyback, result meet eyed
The board of Chennai-based MPS Limited will meet today to consider: un-audited financial results (standalone and consolidated) for the quarter ended June 30, 2020; and a proposal for buyback of equity shares of the company.
Market participants will closely monitor the buyback issue size, the number of shares to be repurchased, and the price of the issue, if approved by the board. Besides, the mode of buyback - whether will it be through open market purchase or by the tender route on a proportionate basis. If the latter is proposes, then investors will closely monitor the record date.
Another important factor is promoter's intention of participation in the buyback.
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