Unichem Labs sizzles after securing USFDA nod

Unichem Laboratories rose 2.33% to Rs 195.70 at 09:31 IST on BSE after the company received a tentative approval for its ANDA, Tadalafil tablets from USFDA.

The announcement was made after market hours yesterday, 11 December 2018.

Meanwhile, the S&P BSE Sensex was up 255.06 points, or 0.73% to 35,405.07

On the BSE, 8,981 shares were traded in the counter so far compared with average daily volumes of 11,000 shares in the past two weeks. The stock had hit a high of Rs 198.05 and a low of Rs 194.30 so far during the day. The stock hit a record high of Rs 382 on 8 January 2018. The stock hit a 52-week low of Rs 182 on 11 October 2018.

Unichem Laboratories said it has received a tentative approval for its ANDA, Tadalafil Tablets: 2.5 mg, 5 mg, 10 mg and 20 mg from the the United States food and Drug Administration for a generic version of ELI LILLY's Cialis, 2.5 mg, 5 mg, 10 mg and 20 mg. Unichem's Tadalafil tablets are indicated for the treatment of erectile dysfunction (ED) and the signs and symptoms of benign prostatic hyperplasia (BPH).

Unichem Laboratories' net profit dropped 66.8% to Rs 15.21 crore on 12.74% rise in total income to Rs 278.50 crore in Q2 September 2018 over Q2 September 2017.

Unichem Laboratories is a pharmaceutical company.

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