Claris rallies on getting nod for Furosemide injection in US

The stock has gained 8% to Rs 238 after the company received the Prior Approval Supplement for furosemide injection in the US.

Claris Lifesciences has moved higher by 8% to Rs 238 on the BSE after the company announced that it has received the Prior Approval Supplement (PAS) for furosemide injection in the United States of America (US).

The company received the original approval for this Abbreviated New Drug Application (ANDA) in January 2014 and was selling the products in the USA in 2014. But since January 2015, the company has been facing supply issues from its raw material supplier and has not been able to supply its products to the USA, Claris Lifesciences said in a statement.

The company has filed a PAS application to append an additional supplier to the ANDA; this process was done for redundancy and to ensure a consistent supply of the API for its finished formulation sold in the USA. With this approval, alternative vendor has been appended to the ANDA and this will allow the company to recommence its supplies to the USA, Claris Lifesciences added.

At 12:21 PM, the stock was up 5% at Rs 232 on the BSE. Around 228,000 shares changed hands on the counter so far as against an average 194,000 shares traded daily in the past two weeks on the BSE.