Bajaj Healthcare trades jubilantly on getting exclusive rights to manufacture, market Magnesium L Threonate in India
Bajaj Healthcare is currently trading at Rs. 637.45, up by 75.55 points or 13.45% from its previous closing of Rs. 561.90 on the BSE.
The scrip opened at Rs. 572.85 and has touched a high and low of Rs. 655.00 and Rs. 572.85 respectively. So far 158615 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 655.00 on 17-Jan-2025 and a 52 week low of Rs. 265.00 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 655.00 and Rs. 499.40 respectively. The current market cap of the company is Rs. 2008.69 crore.
The promoters holding in the company stood at 59.19%, while Institutions and Non-Institutions held 3.04% and 37.78% respectively.
Bajaj Healthcare has received exclusive rights for manufacturing, distribution & sales of the finished formulation of the Product Magnesium L Threonate (Magtein) in India from the rights holder, Threotech LLC.
The company will therefore have the rights to manufacture/ market/ distribute/co-market in the Indian market for Magnesium L Threonate (Magtein).
The Company is already supplying the API Magnesium L Threonate (Magtein), to the patent holder in United States of America.
The API is supplied by Bajaj Healthcare for the brand Magtein in the United States of America as an exclusive arrangement. The brand Magtein by Threotech LLC has a sales value of around $438 million.
Bajaj Healthcare mainly focuses on development, manufacturing and supply of Amino Acids, Nutritional Supplements and Active Pharmaceutical Ingredients (API) for Pharmaceutical, Nutraceuticals and Food industries.
