Granules India gains after getting new drug approval

Granules India rose 1.9% to Rs 145 at 18:33 IST on BSE after the company's US partner got ANDA approval for Prasugrel tablet.

The announcement was made after market hours yesterday, 18 October 2017.

Meanwhile, the S&P BSE Sensex was down 40.21 points, or 0.12% to 32,544.14

On the BSE, 1 lakh shares were traded in the counter so far, compared with average daily volumes of 4.04 lakh shares in the past two weeks.

The small-cap company has equity capital of Rs 25.38 crore. Face value per share is Re 1.

Granules India said that the US Food and Drug Administration has approved the Abbreviated New Drug Application (ANDA) filed by USpharma Windlas, LLC through its subsidiaries, for Prasugrel tablet. The approved ANDA is the bio-equivalent to the reference listed drug product (RLD) Effient tablets 5 mg and 10 mg of Eli Lilly and Company

On a consolidated basis, net profit of Granules India declined 5.54% to Rs 36.80 crore on 10.18% rise in net sales to Rs 378.73 crore in Q1 June 2017 over Q1 June 2016.

Granules India is a vertically integrated pharmaceutical company, headquartered in Hyderabad, India. It manufactures active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates (PFIs) and finished dosages (FDs), distributed to customers in both regulated and semi-regulated markets.

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