Arrow Coated hits upper circuit, again

Arrow Coated Products has once again breached the upper circuit today also at Rs.44.10, up 5%. Yesterday too, the stock was frozen at the 5% upper filter at Rs.42.

This sudden spike up in the stock, that too strong enough to consistently hit the upper circuit is on the back of the company’s announcement that it has entered into an exclusive supply agreement with Tsukioka Film Pharma, a Japanese based company, for developing edible solution film strips containing APIs, vaccines, neutraceuticals and other  remedies.

Tsukioka Film Pharma is a Health science company, manufacturing a wide range of pharmaceutical formulations as edible strips, which is a 142.5 million Japanese yen company, having an USFDA plant in Japan.

Arrow owns two more patents i.e. Drug Delivery Systems & Matrix which is part Hygiene cluster of patents. The company has stated that the relationship with Tsukioka is important for Arrow, as this will lead the MMS (Mouth Melting Strip Division) into pharma, health and hygiene sector. Oral Drug Delivery System using MMS technology has now been established as a leading and most effective method of Drug Delivery. This method has seen a huge growth rate in India as well as in developed markets, worldwide.