Unichem Lab shares gain nearly 3% at close

Shares of Unichem Laboratories ended with nearly 3 per cent gains today following the USFDA nod for generic Quetiapine Fumarate tablets used for the treatment of schizophrenia and bipolar disorder.
The stock ended the day at Rs 236, up 2.16 per cent on BSE. During the day, it gained 4.5 per cent to Rs 241.40.
At NSE, shares of the company went up by 2.61 per cent to close at Rs 237.60.
In the previous session also the stock had soared up to 3.5 per cent.
"The company has received Abbreviated New Drug Application (ANDA) approval from the United States Food and Drug Administration (USFDA) for Quetiapine Fumarate tablets," Unichem Laboratories had said in a BSE filing yesterday.

The approval is for the company's tablets in strengths of 25 mg, 50 mg, 100 mg, 200 mg, 300 mg and 400 mg, it added.
"The product will be commercialised from Unichem's Ghaziabad plant. Active Pharmaceutical Ingredient will also be made in house at Pithampur API plant," the company had said.