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Laurus Labs soars after receiving USFDA approvals for two ANDAs

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Laurus Labs jumped 5.85% to Rs 450.65 after the pharmaceutical company received US drug regulator's approvals for ANDAs TLE 400 and TLE 600 tablets.

Laurus Labs on Tuesday (19 May) said it received an approval from US Food and Drug Administration (USFDA) under PEPFAR (President's Emergency Plan for AIDS Relief) for two ANDAs (Abbreviated New Drug Application) TLE 400 (Tenofovir/Lamivudine/Efavirenz -300/300/400mg) and TLE 600 (Tenofovir/Lamivudine/Efavirenz -300/300/600mg) tablets.

Laurus Labs is one of the few players in the ARV segment to receive an approval for TLE 400 tablets. TLE 400 is one of the most preferred regimens in the anti-retroviral (ARV) first line treatment for people being treated for HIV/AIDS. The company already received WHO Pre-Qualification for TLE 400 (Tenofovir/Lamivudine/Efavirenz -300/300/400mg).

These approvals enables Laurus Labs to launch both the products in several low- and middle-income country (LMIC) markets.

Laurus Labs operates as a pharmaceutical company. The company researches, develops, and manufactures active pharmaceutical ingredients for therapeutic areas of anti-retrovirals and hepatitis C. The drug maker serves customers worldwide.

Laurus Labs' consolidated net profit surged 155.09% to Rs 110.15 crore on a 32.11% jump in net sales to Rs 839.14 crore in Q4 March 2020 over Q4 March 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 19 2020. 12:37 IST