Indoco Remedies soars 19% on US FDA approval for Apixaban tablets

Apixaban is an anticoagulant, or blood thinner, used for patients with health problems caused by a blood clot

Shares of Indoco Remedies moved higher by 19 per cent to Rs 265 in the intra-day trade on the BSE on Monday after the company announced that it has received approval from the US health regulator for blood-thinning drug Apixaban tablets. The approved product is therapeutically equivalent to the reference listed drug Eliquis of Bristol-Myers Squibb.

"The company has received approval from the US Food and Drug Administration (US FDA) for its abbreviated new drug application (ANDA) for Apixaban tablets in the strengths of 2.5 mg and 5 mg," Indoco Remedies said in a press release.

Apixaban is an anticoagulant or blood