Akums Drugs and Pharmaceuticals announced on October 16 that it has entered into a licensing agreement with Canadian company Triple Hair Inc. The deal grants Akums exclusive rights to further develop and market Triple Hair’s recently innovated products in India, as stated in a regulatory filing.
Under the said agreement, Akums would be undertakings development and commercialization of the products subsequent to receipt of licenses, approvals, etc., in India from concerned authorities. Upon completion of development as well as fulfillment of any regulatory requirements, the company would be granted an exclusive license to use intellectual property of Triple Hair for conducting studies among other services provided under the agreement.
Akums will also be responsible for the commercial policy of promotion for Triple Hair patented products, offering them exclusively to its marketing partners and clients in the Indian market. On the BSE, the shares of Akums Drugs and Pharmaceuticals soared 4.31% to Rs 919 a piece subsequent to the declaration.
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Source: Moneycontrol
News Desk
