Australia's Avecho Biotech jumps on Perrigo deal to develop gel for U.S.

Avecho Biotechnology

20/12/2022 03:52

** Shares of Australia's Avecho Biotechnology Ltd  AVE.AX 
climb as much as 20%% to A$0.012, set to mark best day since
Dec. 13, if gains hold
    ** Biotech firm signs agreement with health solutions
provider Perrigo Company Plc  PRGO.N  to develop its Tocopheryl
Phosphate Mixture (TPM)-enhanced Ibuprofen pain-relief gel for
US market  urn:newsml:reuters.com:*:nASX3L8Qjm
    ** Around 2.5 mln shares change hands, over thrice the
30-day average volume
    ** AVE down 33.3%, while PRGO is down 19% this year, as of
last close
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))