Gufic Biosciences inches close to its high

Gufic Biosciences rose over 7.5% today to Rs.73.75, so very close to its 52-week high of Rs.77.40. Volumes are robust, going up almost two times.

The market, which is looking for stock specific action, looking for smallest of the reasons to celebrate, got more than good news from Gufic. The company informed yesterday after market closure that it has received two patent certificates from the Intellectual Property office, which is patent office of India.

The company 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”.

The company is now in the process of applying for patent licence in other countries too.