Sanofi India inks distribution pact with Emcure, but shares trade flat

The share touched a 52-week high of Rs 9,370.35 and a 52-week low of Rs 5,329.70 on 23 February, 2024 and 03 May, 2023, respectively.

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Shares of Sanofi India stayed flat in the opening trade on March 14 after the company signed an agreement with Emcure Pharmaceuticals to distribute its products.

At 9:18am, Sanofi India was quoting Rs 8,028.50, up Rs 12.05, or 0.15 percent, on the BSE.

“The board of directors has approved an exclusive distribution and promotion agreement with Emcure Pharmaceuticals for company’s cardiovascular products in India, effective immediately,” Sanofi India said in a statement.

Emcure Pharmaceuticals will exclusively distribute and promote Sanofi’s cardiovascular (CV) range of products that include well-established brands like Cardace, Clexane, Targocid, Lasix and Lasilactone, the company said.

While Sanofi will continue to own, import, and manufacture these brands across its plants in India and abroad, Emcure will leverage its strengths to engage healthcare professionals and expand reach of these therapeutic solutions for patients across India.

Sanofi India’s concerned employees will have the opportunity to work at Emcure.

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The share touched a 52-week high of Rs 9,370.35 and a 52-week low of Rs 5,329.70 on February 23, 2024 and May 3, 2023, respectively. Currently, the stock is trading 14.32 percent below its 52-week high and 50.64 percent above its 52-week low.