Jubilant Life Sciences scales record high

Jubilant Life Sciences gained 3.73% to Rs 525.95 at 11:45 IST on BSE after the company announced that it has received final approval for abbreviated new drug application for Felodipine Extended-Release Tablets from the US drug regulator.

The announcement was made before market hours today, 25 August 2016.

Meanwhile, the BSE Sensex was up 65.16 points, or 0.23%, to 28,123.95.

On BSE, so far 2.38 lakh shares were traded in the counter, compared with average daily volume of 1.63 lakh shares in the past one quarter. The stock hit a high of Rs 533.70, so far during the day, which is a record high for the stock. The stock hit a low of Rs 510.10 so far during the day. The stock hit a 52-week low of Rs 261 on 8 September 2015. The stock had outperformed the market over the past one month till 24 August 2016, surging 56.09% compared with 0.92% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 42.77% as against Sensex's 10.88% rise.

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

Jubilant Life Sciences announced that it has received final approval for abbreviated new drug application (ANDA) for Felodipine Extended-Release Tablets USP, 2.5 mg, 5 mg, and 10 mg from United States Food & Drug Administration (USFDA). Felodipine Extended-Release Tablets are the generic version of Plendil Tablets of AstraZeneca, which is used for the treatment of hypertension.

As on 30 June 2016, Jubilant Life Sciences had a total of 770 filings for oral solids of which 578 have been approved in various regions globally. This includes 70 ANDAs filed in the US, of which 44 have been approved and 104 filings in Europe.

Jubilant Life Sciences' consolidated net profit rose 22.5% to Rs 161.60 crore on 1.7% 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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