Unichem Labs spurts on USFDA nod for psoriasis drug

Unichem Laboratories surged 5.71% to Rs 323.05 after the company received United States Food and Drug Administration (USFDA) approval for apremilast tablets, 10 mg, 20 mg and 30 mg.

The drug is a generic version of Amgen's Otezla (apremilast) tablets, 10 mg, 20 mg, and 30 mg.

The drug is indicated for the treatment of adult patients with moderate to severe plaque psoriasis who are candidates for phototherapy or systemic therapy.

The scrip extended gains for third day. The stock has added 6.67% in three sessions from its recent closing low of Rs 302.85 recorded on 16 February 2021.

In the past three months, the stock has added 36.73% while the benchmark Sensex has added 17.55% during the same period.

Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in several markets across the world.

The company reported a consolidated net profit of Rs 23.56 crore in Q3 FY21 as compared to a net loss of Rs 14.60 crore in Q3 FY20. Net sales during the quarter increased by 18.7% YoY to Rs 326.28 crore.

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