NSE:SHILPAMED

DAM Capital Starts Shilpa Medicare at Buy with INR748 Price Target

Shilpa Medicare Arm Secures 30.4% Stake in Spanish Biotechnology Firm for EUR7 Million

Shilpa Biocare, a wholly owned subsidiary of Shilpa Medicare (NSE:SHILPAMED, BOM:530549), has agreed to acquire a 30.4% stake in Spanish biotechnology company Gate2Brain for 7 million euros, according to a Wednesday filing to the Indian stock exchanges.Under the terms of the agreement, Shilpa will become a strategic shareholder of Gate2Brain and its dedicated chemistry, manufacturing, and controls (CMC), and regulatory partner for G2B-002 - Gate2Brain's lead program in brain cancer.Gate2Brain is in the pre-clinical stage of product development currently for G2B-002, which has been granted Orphan Drug Designation by both the US Food and Drug Administration and the European Medicines Agency.The company's shares were down over 1% in recent trade.

Shilpa Medicare Appoints COO - Formulations; Shares Up 3%

Shilpa Medicare (NSE:SHILPAMED, BOM:530549) has appointed Vellaian Karuppiah as the chief operating officer of formulations, with effect from Thursday, according to a same-day filing to the Indian stock exchanges.Karuppiah held several high-level positions in various pharmaceutical organizations, including Gland Pharma, Strides Group, Dr. Reddy's Laboratories, Actavis, and Orchid Healthcare, among others.The company's shares were up nearly 3% in recent trade.