Cadila Healthcare Gains Over 2% After Unit Buys Drug For Menkes Disease

Cadila Healthcare shares rose more than 2 per cent in mid-morning trading after the pharma company said its US subsidiary has acquired an experimental drug from Cyprium for treating Menkes disease. At 11:20 am, the shares of Cadila Healthcare were trading at Rs 442.50, higher by 1.9 per cent, on the BSE. The shares have touched an intra-day high of Rs 444.70 and a low of Rs 436.35 thus far.

Cyprium Therapeutics, a partner of Fortress Biotech, and Sentynl Therapeutics, a U.S.- based specialty pharmaceutical company owned by the Zydus Group, has announced its execution of an asset purchase agreement to commit development funding for and acquire Cyprium's proprietary rights to CUTX-101, its Copper Histidinate product candidate for the treatment of Menkes disease.

Menkes disease is a rare recessive pediatric disease caused by gene mutations of copper transporter ATP7A.

The BSE Sensex was at 51,234.50, higher by 450.12 points or 0.89 per cent and the NSE Nifty was at 15,133.50, up 152 points or 0 per cent at the time.