Unichem Lab shares surge further by 4.5%

Shares of Unichem Laboratories further surged by 4.5 per cent today following the USFDA nod for generic Quetiapine Fumarate tablets used for the treatment of schizophrenia and bipolar disorder.
Extending its previous session's rally, the stock rose by 4.5 per cent to Rs 241.40 on BSE.
On NSE, it gained 4.51 per cent to Rs 242.
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.