AstraZeneca Pharma at 20% upper circuit on new launch

AstraZeneca Pharma India was locked at 20% upper circuit at Rs 1,148 T on the Bombay Stock Exchange (BSE) after the company announced the launch of Forxiga (dapaglifozin), a breakthrough treatment for Type 2 diabetes mellitus.

Forxiga belongs to a new class of Type 2 diabetes mellitus medication-a highly selective inhibitor of sodium-glucose cotransporter 2 (SGLT2).

It has an unique insulin independent mode of action that helps remove excess glucose from the body via urine which is associated with reductions in glycated haemoglobin (HbA1c), weight and systolic blood pressure, AstraZeneca Pharma India said.

Globally, Forxiga is the first medicine in the new SGLT2 inhibitor class to gain regulatory approval for the treatment of Type 2 diabetes mellitus, AstraZeneca Pharma India said in a statement.

In India, AstraZeneca has been successfully growing its presence in important therapeutic areas of diabetes, cardiovascular, infection, respiratory and oncology.

The stock opened at Rs 957 on the BSE and touched a high of Rs 1,146. At 10:51AM, a combined total of 500,000 shares changed hands on the counter of NSE and BSE.