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Gufic Biosciences on Monday informed the bourses that it has received two patent certificates from the Intellectual Property India, The Patent Office.
Gufic Biosciences has received two patent certificates from the Intellectual Property India. In a post-market-hour disclosure, the company said it has received patents for “a freeze dried pharmaceutical composition and process for preparation thereof” and for “a freeze dried parental composition of Tygecycline and process for preparation thereof”. Shares will react positively to the develoment, as Gufic Bio prepares to apply for patent licence in other countries too.
The market continued to consolidate in the passing week, with the Nifty hovering in the range of 9,000-9,200. Clearance to important bills in Parliament, paving the way for timely implementation of the Goods and Services Tax from July 1, and hopes of the Non-Performing Assets crisis being resolved helped the Nifty gain 0.7 percent during the week amid mixed monsoon predictions.
Jubilant Life Sciences is seeking shareholders nod to raise up to ₹1,000 crore through issuance of non-convertible debentures (NCDs) on private placement basis. “In order to provide necessary flexibility regarding borrowings of the company in an optimal manner depending on the market conditions, the company proposes to offer, issue and allot redeemable NCDs up to ₹1,000 crore...,” Jubilant Life Sciences said in the notice to shareholders that it filed to the BSE.
"The board of directors of the company has approved the Scheme of Amalgamation of Gufic Stridden Bio-Pharma Pvt Ltd with the company, subject to the necessary approvals," Gufic Biosciences said in a filing to BSE.
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