Strides-ArcolabShares of Strides Arcolab rose almost 16 per cent after it ended a license and supply pact with US drug firm KV Pharmaceutical due to negative developments at the company.

KV Pharmaceutical faced issues such as recall of their products, regulatory actions, filing of a series of class actions by shareholders etc.

Strides Arcolab had signed agreement with KV Pharmaceutical Company in 2005, pursuant to which Strides had agreed to develop certain products to be exclusively licensed to KV and also manufacture and supply such products to KV for sale in certain territories.

At 10:40 am, the company’s shares eased some gains and were trading 7.77 per cent higher at Rs 70.70 on the BSE after surging to a high of Rs 76.