Akums Drugs and Pharmaceuticals announced on Wednesday that it has signed a licensing agreement with Canada-based Triple Hair Inc. Under the agreement, Akums has been granted exclusive rights to further develop and market Triple Hair’s recently innovated products in India.
The company will then go ahead with development and commercialization upon receipt of the required regulatory approvals and licenses within the Indian territory. Akums will be entitled with sole rights to use Triple Hair’s intellectual property to perform studies and services under the arrangement. Akums will also be responsible for the commercial strategy in order to introduce Triple Hair’s patented products to its marketing partners and clients within the Indian market.
Akums Drugs and Pharmaceuticals shares were trading 4.31 percent higher at Rs 919 on the BSE following the issuance of the notice.
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Source: Moneycontrol
News Desk
