J B Chemicals & Pharmaceuticals rose 3.08% to Rs 1066.80 after the company said it received US drug regulator's approval for its Abbreviated New Drug Application (ANDA) of Loratadine tablets.Loratadine tablets are used for treating allergic rhinitis caused by pollen and upper respiratory tract allergy. The product is generic version of Clartin tablet in the same strength of Bayer Healthcare LLC.
The company said it expects to commercialize this product in Q1 of FY 2021-22 and is expected to improve its US sales.
J B Chemicals & Pharmaceuticals manufactures and markets a range of pharmaceutical formulations, herbal remedies and active pharmaceutical ingredient (APIs). The firm's business segments include domestic formulation business, exports and API business.
On a consolidated basis, the company's net profit declined 21.1% to Rs 73.82 crore on a 2.8% decline in net sales to Rs 443.56 crore in Q2 September 2020 over Q2 September 2019.
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