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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)

SI Reporter Mumbai
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