Jubilant Life Sciences gains after receiving ANDA approval for Memantine Hydrochloride Tablets

Jubilant Life Sciences rose 2.02% to Rs 391.95 at 14:25 IST on BSE after the company received Abbreviated New Drug Application final approval from the US Food and Drug Administration for Memantine Hydrochloride Tablets USP, 5 mg and 10 mg.

The announcement was made during market hours today, 14 October 2015.

Meanwhile, the BSE Sensex was down 39.32 points, or 0.15%, to 26,807.21

On BSE, so far 2.12 lakh shares were traded in the counter, compared with an average volume of 3.83 lakh shares in the past one quarter.

The stock hit a high of Rs 397.70 and a low of Rs 383.70 so far during the day. The stock hit a 52-week high of Rs 410.60 on 7 October 2015. 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 12 October 2015, rising 22.75% compared with 5.05% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 89.31% as against Sensex's 2.74% decline.

The mid-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 (USFDA) for Memantine Hydrochloride Tablets USP, 5 mg and 10 mg, the generic version of Namenda Tablets, 5 mg and 10 mg (of Forest Laboratories), which is used for treatment of moderate to severe dementia in patients with Alzheimer's disease.

As on 30 June 2015, Jubilant Life Sciences had a total of 815 filings for formulations of which 389 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, Jubilant Life Sciences' net profit surged 2579.08% to Rs 128.06 crore on 1.5% decline in net sales to Rs 1438.38 crore in Q1 June 2015 over Q1 June 2014.

Jubilant Life Sciences is an integrated global Pharmaceutical and Life Sciences company engaged in manufacture and supply of APIs, Solid Dosage Formulations, Specialty Pharmaceuticals and Life Science Ingredients. It also provides services in Contract Manufacturing and Drug Discovery Solutions.

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