Gufic Biosciences hits record high on CDSCO nod for Isavuconazonium Sulfate API

Gufic Biosciences soared 10.65% to Rs 274.25 on securing permission from Central Licensing Approving Authority, Central Drugs Standard Control Organisation to make Isavuconazonium Sulfate API and finished formulation Isavuconazole injection.

Gufic Biosciences received an approval from the Central Licensing Approving Authority, Central Drugs Standard Control Organisation (CDSCO), Ministry of Health and Family Welfare for the manufacture, sale and distribution of Isavuconazonium Sulfate API and finished formulation Isavuconazole for Injection 200 mg/vial. Isavuconazole for Injection 200 mg/vial is indicated for the treatment of patients having 18 years of age and older for the treatment of Invasive Aspergillosis and Invasive Mucormycosis Isavuconazole is a systemic antifungal drug of triazole class.

Isavuconazole has already been approved by the US-based drug regulatory body, USFDA on 6 March 2015 and European Medicines Agency (EMA) on 15 October 2015. It has activity against Aspergillus, Mucorales and other rare mould infections, enabling physicians to treat the patients without a confirmed diagnosis.

Gufic Biosciences is engaged in the manufacture of pharmaceuticals, medicinal chemicals and botanical products.

On a consolidated basis, the company reported a 36% jump in net profit to Rs 21 crore on a 3.3% rise in net sales to Rs 172 crore in Q3 FY22 over Q3 FY21.

The scrip hit an all-time high of Rs 283.50 during intraday trade. The stock has grown 163.47% from its 52-week low of Rs 107.60 attained on 12 April 2021.

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