New Delhi: Shares of drug firm Pfizer Ltd today surged over 7 per cent after the company entered into a pact with AstraZeneca AB to acquire the 'Neksium' brand in India for Rs 75 crore.
After a positive opening, the stock further went up by 7.15 per cent to Rs 1,785.80 on BSE.
At NSE, shares of the company soared 7.33 per cent to Rs 1,788.50.
The company is well placed to grow the Neksium brand further through its existing reach, coverage and equity in the gastrointestinal therapy area, Pfizer said in a statement yesterday.
With this acquisition, the company will accelerate growth and strengthen its leadership position in the gastrointestinal (GI) therapy area, he added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)