You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Shilpa Medicare gains on launching generic cancer drug

Capital Market 

Shilpa Medicare rose 3.93% to Rs 491.95 after the company said it launched first affordable generic drug to treat advanced kidney cancer.

The drug maker on Tuesday (30 June) launched the Indian branded generic of Axitinib, an tyrosine kinase inhibitor drug with a brand name Axishil.

Axishil is available as 1 mg & 5 mg tablets in pack of 14 tablets in one bottle. It is used to treat patients suffering from advanced renal cell carcinoma (RCC). Currently the monthly therapy cost of innovator is approximately Rs 1.66 lakh and with the launch of Axishil, monthly cost of treatment will be reduced to Rs 14,940.

"Axishil is being launched to provide global quality Indian Brand with greater affordability to cancer patients. Today there are around 17,000 to 21,000 new patients in India who needs Axitinib and can be benefited by Axishil tablets," said Sundeip Bhatia, business head formulations India.

Shilpa Medicare is engaged in the business of manufacturing of bulk drugs or active pharmaceutical ingredient (API) and intermediates.

The drug maker's consolidated net profit surged 248.7% to Rs 55.06 crore on 36.6% jump in net sales to Rs 236.85 crore in Q3 December 2019 over Q3 December 2018.

Powered by Capital Market - Live News

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

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, June 30 2020. 13:14 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU