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Shares of Sun Pharma Research Company (SPARC) has zoomed 19% to Rs 562, extending its 15% rally past two trading days, after the company received approval from US Food and Drug Administration (USFDA) for antiepileptic drug.
The stock opened at Rs 477 and touched a record high of Rs 565 on BSE. The trading volumes on the counter nearly doubled with a combined 5.72 million shares changed hands on the counter till 0947 hours on BSE and NSE.
Meanwhile, thus far in 2015, the stock has outperformed the market by surging 200% from Rs 187 at the beginning of the current calendar year compared with 5.7% rise in the benchmark S&P BSE Sensex.
"The USFDA has approved its new drug application (NDA) for Elepsia XR (Levetiracetam extended-release tablets 1000 mg and 1500 mg)," says SPARC in its filing to the exchange.
Elepsia is indicated for adjunctive therapy in the treatment of partial onset seizures in patients 12 years of age and older with epilepsy.
"Levetiracetam is a very successful and highly effective antiepileptic drug, says Anil Raghavan, chief executive officer of SPARC.
The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India.
The stock opened at Rs 477 and touched a record high of Rs 565 on BSE. The trading volumes on the counter nearly doubled with a combined 5.72 million shares changed hands on the counter till 0947 hours on BSE and NSE.
Meanwhile, thus far in 2015, the stock has outperformed the market by surging 200% from Rs 187 at the beginning of the current calendar year compared with 5.7% rise in the benchmark S&P BSE Sensex.
"The USFDA has approved its new drug application (NDA) for Elepsia XR (Levetiracetam extended-release tablets 1000 mg and 1500 mg)," says SPARC in its filing to the exchange.
Elepsia is indicated for adjunctive therapy in the treatment of partial onset seizures in patients 12 years of age and older with epilepsy.
"Levetiracetam is a very successful and highly effective antiepileptic drug, says Anil Raghavan, chief executive officer of SPARC.
The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India.
