United Kingdom-based Actimed Therapeutics is a clinical stage biopharmaceutical company working on the treatment of cancer cachexia, amyotrophic lateral sclerosis (ALS) and other muscle wasting disorders. The company had recorded a turnover of GBP 797,919 (approximately Rs 8.39 crore) for the year ended 31 December 2022.

Mankind Pharma stated that this is a strategic investment in the field of treatment of cancer cachexia, amyotrophic lateral sclerosis and other muscle wasting disorders.

Post this investment the aggregate shareholding of the company in Actimed will be approximately 10.19% as against 8.90% earlier.

Mankind pharma is one of the largest pharmaceutical company in India, which focuses on the domestic market with its Pan India presence.Mankind pharma operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices. The company has 25 manufacturing facilities in India manufacturing a wide range of dosage forms, including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products.

The pharmaceutical company reported 19.4% increase in consolidated net profit to Rs 501.03 crore in Q2 FY23 as against Rs 419.71 crore posted in Q2 FY23. Revenue from operations stood at Rs 2,708.10 crore in the quarter ended 30 September 2023, up 11.6% YoY from Rs 2,425.84 crore in Q2 FY23.

The scrip had ended 0.03% higher, at Rs 1887.80 on the BSE on Friday.