Granules India rises after Health Canada approval for acetaminophen tablets

Granules India rose 1.28% to Rs 334.75 after the drug maker announced receiving marketing approval from Health Canada for acetaminophen extended-release tablets OTC, 650 mg for the treatment of arthritis pain.

The product manufactured by Granules is a bioequivalent to the reference listed drug, Tylenol extended release 650 tablets. The drug will be manufactured at the Granules manufacturing facility located in Gagillapur, Hyderabad. Granules now have a total of 2 ANDS approvals from Health Canada.

Priyanka Chigurupati, executive director of Granules USA, Inc. & Granules Pharmaceuticals, Inc. said, "We received the approval within eight months of filing. Thisis a step towards global expansion of our core molecules. The approval of acetaminophen extended-release tablets OTC, 650mg, a complex bi-layer extended released based formulations, is a good addition to our portfolio. We will be launching the product in the Canada market soon."

 

Granules India along with its subsidiaries has a global presence which extends to over 250 customers in over 75 countries through its offices in India, US & UK and has seven manufacturing facilities out of which six are located in India and one in the USA. The drug company posted a 7.9% rise in consolidated net profit to Rs 120.2 crore on a 15.5% increase in net sales to Rs 849 crore in Q1 FY22 over Q1 FY21.

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