Akums Drugs and Pharmaceuticals Limited has entered into a License & Distribution Agreement with Triple Hair Inc., a Canadian company, for exclusive rights to develop and market Triple Hair’s recently innovated products in India. The agreement, announced on October 16, 2024, grants Akums the exclusive use of Triple Hair’s intellectual property rights to conduct studies and perform services as outlined in the agreement.
The shares of Akums Drugs and Pharmaceuticals Limited were trading at ₹916.70 up by ₹36.10 or 4.10 per cent on the NSE today at 2.20 pm.
Under the terms of the deal, Akums will manage the commercial strategy to promote and offer Triple Hair’s patented products to its marketing partners and clients within the Indian market. The development and commercialisation will proceed after obtaining necessary regulatory approvals and licenses in India.
This partnership marks a significant step for Akums in expanding its product portfolio and strengthening its position in the Indian pharmaceutical market.