Bal Pharma gains after launching OTC medicine in Bangalore

Bal Pharma rose 3.4% to Rs 69.90 at 10:01 IST on BSE after the company announced the launch of its maiden over the counter product Eye Spa, in Bangalore market.

The company made the announcement after market hours yesterday, 9 September 2015.

Meanwhile, the S&P BSE Sensex was down 355.61 points or 1.38% at 25,363.97.

On BSE, so far 6,053 shares were traded in the counter as against average daily volume of 8,819 shares in the past two weeks.

The stock hit a high of Rs 71 and a low of Rs 67.50 so far during the day.

The over the counter (OTC) medicine Eye Spa is first among the series of OTC products that the company has lined up for launching in the market through its subsidiary i.e. Lifezen Healthcare, Bal Pharma said in a statement.

Eye Spa is an unique product which soothes and rejuvenates the tired eyes, due to their continuous exposure to dust, TV/computer screen, air conditioning and other modern lifestyle disorders, Bal Pharma said. Bangalore market is choosen for the launch of Eye Spa as majority of its population are exposed to the above said lifestyle disorders, the company said in a statement.

Bal Pharma plans to roll out its products in other South Indian markets shortly, before their pan India launch.

Bal Pharma's net profit fell 51% to Rs 0.48 crore on 4.3% decline in net sales to Rs 40.53 crore in Q1 June 2015 over Q1 June 2014.

Bal Pharma is a fully integrated and leading Indian pharmaceutical company specializing in prescription drugs, generic, OTC products, intravenous infusions, bulk drugs (APIs) and also Ayurvedic formulations.

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