Jubilant Life Sciences gains after receiving ANDA approval for Levofloxacin Tablets

Jubilant Life Sciences rose 2.14% to Rs 174.20 at 14:40 IST on BSE after the company received ANDA final approval from US FDA for Levofloxacin Tablets, 250mg and 500mg.

The announcement was made during market hours today, 23 June 2015.

Meanwhile, the BSE Sensex was up 102.71 points, or 0.37%, to 27,832.92

On BSE, so far 1.33 lakh shares were traded in the counter, compared with an average volume of 1.20 lakh shares in the past one quarter.

The stock hit a high of Rs 177 and a low of Rs 172.15 so far during the day. The stock hit a 52-week high of Rs 214.95 on 20 June 2014. The stock hit a 52-week low of Rs 116.10 on 17 December 2014.

The stock had outperformed the market over the past one month till 22 June 2015, falling 0.26% compared with 0.81% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 7.6% as against Sensex's 1.88% fall.

The small-cap company has an equity capital of Rs 15.93 crore. Face value per share is Re 1.

Jubilant Life Sciences said that the company has received Abbreviated New Drug Application (ANDA) final approval from the US Food and Drug Administration (US FDA) for Levofloxacin Tablets, 250mg and 500mg, the generic version of Levaquin Tablets (of Ortho-McNeil), which is used for the treatment of adults with infections such as pneumonia, bacterial sinusitis, chronic bronchitis, skin and skin structure infections, chronic bacterial prostatitis, urinary tract infections and inhalational anthrax. The total market size for Levofloxacin Tablets as per IMS is $28 million per annum in the United States.

As on 31 March 2015, Jubilant Life Sciences had a total of 806 filings for formulations of which 368 have been approved in various regions globally. This includes 72 ANDAs filed in the US, of which 38 have been approved and 46 Dossier filings in Europe.

On a consolidated basis, net profit of Jubilant Life Sciences declined 56.8% to Rs 42.73 crore on 1.8% decline in net sales to Rs 1523.25 crore in Q4 March 2015 over Q4 March 2014.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in manufacture and supply of Active Pharmaceutical Ingredients (APIs), generics, specialty pharmaceuticals and life science ingredients. It also provides services in contract manufacturing and drug discovery solutions.

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