Jubilant Life Sciences rose 2.28% to Rs 167.95 at 10:27 IST on BSE after the company said it has received abbreviated new drug application final approval from USFDA for Irbesartan Tablets and Cetirizine Hydrochloride Tablets (Chewable).
The announcement was made after market hours yesterday, 24 February 2015.
Meanwhile, the S&P BSE Sensex was up 215.01 points or 0.74% at 29,219.67.
On BSE, so far 1.35 lakh shares were traded in the counter as against average daily volume of 1.78 lakh shares in the past two weeks.
The stock hit a high of Rs 174.50 and a low of Rs 167 so far during the day.
Irbesartan Tablets USP, 75 mg, 150 mg, and 300 mg is the generic version of Avapro (of Sanofi-Aventis), which is used for treating hypertension and nephropathy in type II diabetic patients. The total market size for Irbesartan Tablets as per IMS is approximately $50 Million per annum in the US.
Cetirizine Hydrochloride Tablets (Chewable), 5 mg and 10 mg is the generic version of Zyrtec Chewable Tablets (of Mcneil), used as an anti-histamine for the treatment of allergies.
As on 31 December 2014, Jubilant Life Sciences had a total of 781 filings for formulations of which 333 have been approved in various regions globally. This includes 72 ANDAs filed in the US, of which 35 have been approved and 46 Dossier filings in Europe. So far, the company has received 9 ANDA approvals during FY 2015.
On consolidated basis, Jubilant Life Sciences reported a net loss of Rs 11.16 crore in Q3 December 2014 compared with net profit of Rs 143.43 crore in Q3 December 2013. Net sales rose 0.2% to Rs 1430.25 crore in Q3 December 2014 over Q3 December 2013.
Jubilant Life Sciences is a global pharmaceutical and life sciences company engaged in manufacture and supply of active pharmaceutical ingredients (APIs), generics, specialty pharmaceuticals and life science ingredients.
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