Caplin Point rises on USFDA nod for eye drops

Caplin Point Laboratories added 1.67% to Rs 1,318.75 after its subsidiary, Caplin Steriles received final approval from the US drug regulator for its abbreviated new drug application (ANDA) Ofloxacin Ophthalmic Solution.

The approved ANDA is a generic therapeutic equivalent version of reference listed drug (RLD), Ocuflox Ophthalmic Solution of Allergan Inc.

Ofloxacin Ophthalmic Solution (eye drops) is indicated for treatment of eye infections caused during the conditions of conjunctivitis and corneal ulcers.

According to IQVIA (IMS Health), Ofloxacin Ophthalmic Solution had US sales of approximately $52 million for the 12- month period ending December 2023.

Caplin Point Laboratories is a fast-growing pharmaceutical company with a unique business model catering predominantly to emerging markets of Latin America and Africa. The company has manufacturing facilities that cater to a complete range of finished dosage forms.

The companys consolidated net profit jumped 30.1% to Rs 119.82 crore on 17% increase in revenue from operations to Rs 435.50 crore in Q3 FY24 over Q3 FY23.

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