ALSO READMorepen surges 18% on USFDA clearance for anti-asthmatic drug Montelukast D B Realty, Unitech, Sun TV Network surge upto 20% post 2G verdict Divi's Labs gains as USFDA closes out warning letter for Vizag unit Divis Labs surges as USFDA to lift import alert at Visakhapatnam facility Divi's Labs surges 21% as USFDA to lift import alert for Visakhapatnam unit
D B Realty was locked in upper circuit for the second straight day, up 20% at Rs 52.40 on the BSE, after a special court acquitted all those said to have been involved in the 2G scam including Vinod Goenka and Shahid Balwa, the managing directors and key managerial personnel of realty firm.
During the current week, the stock has appreciated 50% from Rs 35 on December 15, 2017. The counter has seen multiple-fold jump in trading volumes. A combined 2.21 million shares changed hands and there were pending buy orders for 5.06 million shares on the NSE and BSE at 02:59 PM.
Morepen Laboratories hit 52-week high of Rs 38.15, up 12%, extending its over 35% rally in past three trading sessions on the BSE after the pharmaceutical company on Wednesday said that the United States Food and Drug Administration (USFDA) has cleared anti-asthmatic drug, Montelukast Sodium. In past one week, the stock zoomed 52% from Rs 25.05 on last Friday.
This gives Morepen an entry into the Rs 2,000 crore (approx. $ 300 million) US market for Montelukast. The first commercial orders for the bulk drug are expected in Q2 of FY2018-19, it added.
Montelukast (Singulair of Merck) is the largest selling anti-asthmatic drug in the world and is a major contributor to Morepen’s API business.
Montelukast’s global market is estimated at about Rs 13,000 crore (approx $ 2 billion) out of which US market alone is Rs 2,000 crore. The patent for Montelukast has expired in all the market worldwide. In US, the product patent got expired in 2012 and subsequently process patent expired in 2014, the company said.
|D B REALTY||52.40||35.00||49.7|
|FORBES & CO||4036.25||2951.00||36.8|
|UCAL FUEL SYS.||314.00||247.05||27.1|
|IFB AGRO INDS.||885.00||703.00||25.9|