Strides Arcolab spurts 7% on USFDA nod for Labetalol
BS Reporter / Mumbai Feb 09, 2010, 16:03 IST
Strides Arcolab finally settled 13% higher at Rs 311. The counter saw 824,000 equity shares change hands today.
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(Updated at 1103hrs)
Strides Arcolab has surged 6% to Rs 293 after company announced receipt of ANDA approval for Labetalol Hydrochloride (HCI) Injection, USP 100 mg per 20 ml and 200 mg per 40 ml, Multi-dose Vials. This is expected to be launched shortly.
The stock opened at Rs 270 and touched high of Rs 295. Around 280,000 equity shares have changed hands so far at the counter on the BSE.
"Labetalol HCI Injection is the generic equivalent of Prometheus Laboratories Trandate injection. Labetalol HCI Injection is an adrenergic receptor blocking agent that has both selective alpha1-adrenergic and non-selective beta-adrenergic receptor blocking actions that is used to control blood pressure in severe hypertension" the company said in its announcement to the stock exchange.
Labetalol is the third product launched under the partnership between the company and Sagent Pharmaceuticals. Under this partnership, both the companies are jointly developing, supplying and marketing more than 25 injectable products for the US market.
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