Unichem Lab firms up after USFDA approval for Allopurinol tablets

Unichem Laboratories rose 1.80% to Rs 206.05 at 15:17 IST on BSE after the company said it received approval from the US drug regulator to market a generic version of Zyloprim tablets.

Meanwhile, the S&P BSE Sensex was up 217.33 points, or 0.58% to 37,752.99.

On the BSE, 18,000 shares were traded in the counter so far compared with average daily volumes of 8,808 shares in the past two weeks. The stock had hit a high of Rs 207.70 and a low of Rs 200.45 so far during the day. The stock hit a 52-week high of Rs 354 on 16 March 2018. The stock hit a 52-week low of Rs 182 on 11 October 2018.

Unichem Laboratories announced that it has received abbreviated new drug application (ANDA) approval for its Allopurinol tablets, USP 100 mg and 300 mg, from the United States Food and Drug Administration (USFDA). Allopurinol tablets are generic version of Zyloprim (allopurinol) tablets.

The drug is indicated for the management of patients with signs and symptoms of primary or secondary gout (acute attacks, tophi, joint destruction, uric acid lithiasis, and/or nephropathy). It is also indicated to patients with leukemia, lymphoma and malignancies who are receiving cancer therapy which causes elevations of serum and urinary uric acid levels. It is also indicated to patients with recurrent calcium oxalate calculi whose daily uric acid excretion exceeds 800 mg/day in male patients and 750 mg/day in female patients. The product will be commercialized from Unichem's Ghaziabad Plant.

Net profit of Unichem Laboratories declined 99.83% to Rs 4.30 crore on 52.77% rise in net sales to Rs 244.76 crore in Q3 December 2018 over Q3 December 2017.

Unichem Laboratories is an integrated specialty pharmaceutical company.

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