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Alkem Labs share price rises 2% on AbbVie Inc deal

Alkem Labs share price rises 2% on AbbVie Inc deal

Tuesday, December 31, 2019, 8:05 PM

Shares of Alkem Laboratories gained more than 2 percent intraday on December 31 after the company acquired new drug application for drug Marinol (a type of appetite stimulant) from AbbVie. Alkem Laboratories said it entered into an asset purchase agreement with AbbVie Inc, USA, for the acquisition of certain assets. Alkem bought these assets for $10 million-plus suitable working capital adjustments on closing.
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