Claris Lifesciences gains on ANDA approval for Bupivacaine injection

The stock rallied nearly 8% to Rs 270, also its 52-week high bouncing back 10% from its intra-day low of Rs 246 on the BSE

Claris Lifesciences rallied nearly 8% to Rs 270 on the BSE after the company announced that it has received Abbreviated New Drug Application (ANDA) approval for Bupivacaine injection. The stock is trading at its 52-week high after rebounding 10% from its intra-day low of Rs 246.

“The company has received Abbreviated New Drug Application (ANDA) approval for Bupivacaine Hydrochloride in 8.25% Dextrose injection USP, 7.5 mg/ml, single-dose ampules with 2 ml fill volumes, in the United States of America (US),” Claris Lifesciences said in release.

Bupivacaine Hydrochloride is Dextrose injection is a local or regional anesthesia used as a long-acting anesthetic during surgical procedures.

With this approval Claris now has a total of 15 approvals and 25 under approval ANDAs, the total addressable market size of the approved ANDAs is estimated to be little above US$ 300 million, it added.

At 12:44 PM, the stock was up 5% at Rs 263 on the BSE. Around 370,000 shares changed hands so far against an average sub 75,000 shares that were traded daily in past two weeks on the BSE.