Neuland Labs zooms over 40% in two trading days
The stock hit a record high of Rs 1,319 on BSE in intra-day trade, rallied 44% in past two days
 "A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (pic: Reuters)")
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A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai (pic: Reuters)
Neuland Laboratories rallied to its record high of Rs 1,319, up 20% on the BSE in early morning trade, extending its Wednesday surge, after media report suggests that Teva Pharma made an announcement that the US Food and Drug Administration (USFDA) accepted its new drug application and granted a priority for SD-809 for treatment of tardive dyskinesia.
In past two trading days, the stock rose 44% from Rs 917 on February 28, 2017.
On clarification of on news report appeared on TV channel that US FDA grants priority review for SD-809, Neuland Laboratories said the company’s relationships with their customers both under the Custom Manufacturing Solutions (CMS) and the Generic Active Pharmaceutical Ingredients (API) manufacturing are bound by confidentially clauses.
All our communications to the exchanges and the investors in the past have bound by these agreements with our customers, it added.
The company said the approval for the aforesaid product, is not received by Neuland Laboratories and therefore the company cannot give any comments on the development.
Neuland is a no-compromise, API manufacturing service provider, offering worldwide compliant manufacturing facilities to its customers that it guarantees not to compete with in finished product.
At 11:26 am; the stock was up 16% at Rs 1,277 as compared to 0.45% rise in the S&P BSE Sensex. A combined 432,545 shares changed hands on the counter so far against an average sub 50,000 shares that were traded daily in past two weeks on both the exchanges.
In past two trading days, the stock rose 44% from Rs 917 on February 28, 2017.
On clarification of on news report appeared on TV channel that US FDA grants priority review for SD-809, Neuland Laboratories said the company’s relationships with their customers both under the Custom Manufacturing Solutions (CMS) and the Generic Active Pharmaceutical Ingredients (API) manufacturing are bound by confidentially clauses.
All our communications to the exchanges and the investors in the past have bound by these agreements with our customers, it added.
The company said the approval for the aforesaid product, is not received by Neuland Laboratories and therefore the company cannot give any comments on the development.
Neuland is a no-compromise, API manufacturing service provider, offering worldwide compliant manufacturing facilities to its customers that it guarantees not to compete with in finished product.
At 11:26 am; the stock was up 16% at Rs 1,277 as compared to 0.45% rise in the S&P BSE Sensex. A combined 432,545 shares changed hands on the counter so far against an average sub 50,000 shares that were traded daily in past two weeks on both the exchanges.