Hyderabad-based Vivimed Labs Ltd said it formed a manufacturing alliance with New Jersey-based chemical supplier International Specialty Products Inc (ISP) for production of ultraviolet (UV) absorbers. No financial details were provided.
The manufacturing alliance will allow the two companies to jointly market specific products used in sprays and lotions that include UVA and UVB protective properties.
From October onwards, ISP will add a number of UVA and UVB absorbers manufactured by Vivimed to its portfolio of sun protection ingredients.
On Wednesday, Vivimed shares gained 1.1% to Rs168 on the Bombay Stock Exchange, while the benchmark Sensex closed at 0.3% up at 17,462 points.
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