Jubilant Life Sciences jumps after USFDA approval for Ruby-Fill

Jubilant Life Sciences rose 6.40% to Rs 654 at 10:14 IST on BSE after the company said it received US drug regulator's approval for Ruby-Fill- Rubidium 82 generator and elution system.

The announcement was made before trading hours today, 3 October 2016.

Meanwhile, the BSE Sensex was up 253.85 points, or 0.91%, to 28,119.81.

On BSE, so far 2.42 lakh shares were traded in the counter, compared with average daily volume of 2.53 lakh shares in the past one quarter. The stock hit a high of Rs 676.10 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 652.10 so far during the day. The stock hit a 52-week low of Rs 272.50 on 20 January 2016. The stock had outperformed the market over the past 30 days till 30 September 2016, rising 12.77% compared with 1.96% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 93.26% as against Sensex's 2.66% rise.

The mid-cap pharmaceuticals and life sciences company has equity capital of Rs 15.93 crore. Face value per share is Re 1.

Jubilant Life Sciences announced that its wholly-owned subsidiary Jubilant Pharma, through one of its units Jubilant DraxImage Inc. Montreal Canada, has received US Food and Drug Administration (USFDA) approval for RUBY-FILL, for its New Drug Application (NDA) pursuant to section 505 (b)(2) filing. This approved new drug application provides for the use of RUBY-FILL for Positron Emission Tomography (PET) imaging of the myocardium under rest or pharmacologic stress conditions to evaluate regional myocardial perfusion in adult patients with suspected or existing coronary artery disease.

The product is expected to be launched in the current quarter (third quarter of financial year 2017) under the company's registered brand name RUBY-FILL for which the current estimated US market size is $76 million and has a potential to grow up to $250 million annually in the next five years.

Jubilant Life Sciences' consolidated net profit rose 22.49% to Rs 161.60 crore on 1.72% decline in net sales to Rs 1400.97 crore in Q1 June 2016 over Q1 June 2015.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in manufacture and supply of active pharmaceutical ingredients (APIs), solid dosage formulations, radiopharmaceuticals, allergy therapy products and life science ingredients. It also provides services in contract manufacturing of sterile injectables and drug discovery solutions. The company's strength lies in its unique offerings of pharmaceuticals and life sciences products and services across the value chain.

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