Laurus Labs gains after EIR from USFDA for Vizag units

Laurus Labs rose 1.65% to Rs 331.90 after the company said that it received the establishment inspection report from the US drug regulator for API units in Visakhapatnam.

Laurus Labs has received the establishment inspection report (EIR) from US Food and Drug Administration (USFDA) for its API units 1 & 3 in Visakhapatnam, for the inspection conducted in June 2019.

And in FDF (finished dosage form) segment Laurus Labs received Global Fund (GF) ERP (Expert Review Panel) approval for FDC (fixed dose combination) TLE 400 (Tenofovir / Lamivudine / Efavirenz 300 / 300 / 400mg) for supply in GF funded projects.

Laurus Labs is one among the three companies to receive the approval for this product in ART (Anti Retro Viral Therapy). This approval enables Laurus Labs to participate directly in GF and also in-country tenders based on GF funding across Sub-Saharan African region along with other ARV (antiretroviral) portfolio comprising of TLD (Tenofovir / Lamivudine / Dolutegravir 300 / 300 / 50mg), DTG (Dolutegravir 50mg) and ET (Emtricitabine / Tenofovir 200 / 300 mg).

TLE 400 is the alternative first line regimen for treatment of HIV/AIDS as per the WHO guidelines issued in July 2019.

On the BSE, 2104 shares were traded in the counter so far compared with average daily volumes of 3934 shares in the past one quarter. The stock hit a high of Rs 337 and a low of Rs 328.05 so far during the day.

The stock hit a 52-week high of Rs 448 on 10 Sep 2018. The stock hit a 52-week low of Rs 298 on 07 Aug 2019.

On a consolidated basis, the pharmaceutical company's net profit declined 8.82% to Rs 15.10 crore on 2.14% rise in the net sales to Rs 550.57 crore in Q1 June 2019 over Q1 June 2018.

Laurus Labs is a leading research & development driven and fully integrated pharmaceutical company in India.

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