Meanwhile, the S&P BSE Sensex was up 50.32 points or 0.18% at 28,110.26.

Higher than usual volumes were witnessed on the counter of AstraZeneca Pharma India. On BSE, so far 9,144 shares were traded in the counter as against average daily volume of 2,152 shares in the past one quarter. The stock hit a high of Rs 1,120 and a low of Rs 1,050 so far during the day. The stock had hit a 52-week high of Rs 1,348 on 12 January 2016. The stock had hit a 52-week low of Rs 995.40 on 9 August 2016. The stock had outperformed the market over the past one month till 24 August 2016, rising 9.21% compared with 0.92% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 4.29% as against Sensex's 10.88% rise.

The mid-cap company has equity capital of Rs 5 crore. Face value per share is Rs 2.

AstraZeneca Pharma India announced that AstraZeneca UK terminated distribution arrangements with the company for Meronem (meropenem) in India. The termination was a result of global agreement by a parent firm, AstraZeneca PLC to sell the development and commercialisation rights to Pfizer Inc, of its late stage small molecule antibiotics business. Meronem is a carbapenem anti-bacterial used for the treatment of serious infections in hospitalised patients. Meronem is currently AstraZeneca Pharma India's principal product, which generated 18% of the total turnover of the company in the year ended 31 March 2016 (FY 2016). The current distribution arrangements for Meronem in India will terminate in six months from 24 August 2016.

AstraZeneca PLC, parent company of AstraZeneca Pharma India announced yesterday, 24 August 2016 that it has entered into an agreement with Pfizer Inc. to sell the commercialisation and development rights to its late-stage small molecule antibiotics business in most markets globally outside the US. The agreement reinforces AstraZeneca's focus on developing transformational medicines in its three main therapy areas cardiovascular & metabolic diseases, respiratory and oncology, while realising value from the strong portfolio of established and late-stage small molecule antibiotics through Pfizer's dedicated commercialisation and development capabilities in anti-infectives.

AstraZeneca Pharma India's net profit rose 288.6% to Rs 10.57 crore on 15% rise in net sales to Rs 138.09 crore in Q1 June 2016 over Q1 June 2015.

AstraZeneca Pharma India is present in seven crucial areas of healthcare-cardiovascular, diabetes, oncology, respiratory & inflammation, infection, local anesthesia and maternal healthcare. AstraZeneca Pharmaceuticals AB holds 75% stake in AstraZeneca Pharma India (as per the shareholding pattern as on 30 June 2016).