Dishman Carbogen in the limelight

Dishman Carbogen is in the limelight today thanks to a report in Bloombergquint, which says that approval for its new drug could benefit its Indian supplier, Dishman Carbogen – it has supplying APIs for commercial manufacturing to GSK from 2017.

GSK Plc is close to getting approval for its ovarian cancer drug and if that happens, it could boost the earnings of Dishman. GSK is presenting this phase three study of th drug at an upcoming scientific meeting.

The drug – Niraparib is currently marketed in the US and Europe under the trade name, Zejula.

There is no official word on this development from Dishman.

The stock price has reacted positively, opening over 6% at Rs.226 and going on to hit an intraday high at Rs.232, up 9%. Its 52-week high is at Rs.314.65.