Ajanta Pharma jumped 5.34% to Rs 1,634.40 at 12:35 IST on BSE after the company said it has received final approval for its 3 abbreviated new drug applications from the United States Food and Drug Administration.
The announcement was made during market hours today, 4 August 2015.
Meanwhile, the S&P BSE Sensex was down 113.90 points or 0.4% at 28,073.16.
On BSE, so far 62,000 shares were traded in the counter as against average daily volume of 29,751 shares in the past one quarter.
The stock hit a high of Rs 1,648 and low of Rs 1,548.30 so far during the day. The stock had hit a record high of Rs 1,690 on 20 July 2015. The stock had hit a 52-week low of Rs 580 on 13 August 2014.
The stock had underperformed the market over the past one month till 3 August 2015, sliding 2.22% compared with Sensex's 0.34% rise. The scrip had, however, outperformed the market in past one quarter, surging 22.58% as against Sensex's 4.35% rise.
The large-cap company has equity capital of Rs 17.60 crore. Face value per share is Rs 2.
Ajanta Pharma said it has received final approval for its 3 abbreviated new drug applications (ANDAs) viz. Montelukast tablets, 10mg, Montelukast sodium chewable tablets, 4mg & 5mg and Montelukast oral granules from the United States Food and Drug Administration (USFDA).
Montelukast Sodium tablets, 10mg, the generic version of Singulair tablets by Merck, is indicated for treatment of prophylaxis and chronic treatment of asthma and to relieve symptoms of seasonal and perennial allergic rhinitis in patients two years of age and older.
Montelukast 4mg chewable tablets are suitable for 2 to 5 year old patients while Montelukast 5mg chewable tablets are availale for patients from 6 to 14 years of age. Montelukast oral granules are specially appropriate for patients of 12 months of age and older.
For the 12 months ended June 2015, Montelukast tablets, chewable tablets and Granules had annual sales of approximately $237 million, $87 million and $31 million respectively, according to IMS Health data. Ajanta Pharma intends to launch these products shortly, the company said in a statement.
Ajanta Pharma's net profit rose 20.3% to Rs 84.31 crore on 19.7% growth in net sales to Rs 360.36 crore in Q4 March 2015 over Q4 March 2014.
Ajanta Pharma is an established pharmaceutical formulation company with clear focus on fast growing therapeutic segments of Cardiology, Ophthalmology, Dermatology and Pain Management in the Indian market and is among the fastest growing in the country.
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