Shilpa Medicare, Switzerland’s NXI Therapeutics ink deal for new chemical entity; shares up 3%

Shilpa

Medicare Ltd. shares gained 3% in intraday trade on Friday, February 13, after the company announced entering into a binding agreement with Switzerland-based NXI Therapeutics AG for a new chemical entity.

The company has entered into a long-term development and commercial manufacturing agreement for a New Chemical Entity (NCE) of NXI Therapeutics AG.

Under the agreement, Shilpa Medicare will develop and supply a novel asset targeting autoimmune and alloimmune disorders. The scope of the agreement also involves commercial supply across territories, the company informed the stock exchanges in a filing.

Following the announcement, shares of Shilpa Medicare jumped as much as 3.04% to hit an intraday high of ₹333.15 apiece on the BSE. However, the pharma stock pared some of its early gains to trade at ₹333.1 apiece, up 3.03% on the BSE at 1:20 pm.

"Under the terms of the agreement, Shilpa Group will provide comprehensive CMC development, process scale-up, GMP clinical supply and commercial manufacturing support. The collaboration spans early development through commercialisation, positioning Shilpa as a lifecycle partner for the programme," the company said in a press release on Friday.

"The autoimmune and immune-modulation segment represents one of the fastest-growing therapeutic categories globally, driven by increasing prevalence and demand for targeted immunotherapies. By securing this mandate at an early stage, Shilpa enhances its participation in high-value, innovation-driven pipelines with scalable commercial potential," Shilpa Medicare added.

This is the third major international development and manufacturing contract for the Karnataka-based Shilpa Group.

In its Q3FY26 results released last week, Shilpa Medicare reported a 40.3% year-on-year (YoY) rise in profit after tax at ₹44.6 crore from ₹32 crore in the year-ago quarter. Revenue for the December quarter increased 28% YoY to ₹409 crore from ₹319.3 crore a year ago.