Indoco Remedies gains after receiving USFDA nod for Allopurinol drug

Indoco Remedies rose 1.28% to Rs 245.80 after the company announced that it has received final approval from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Allopurinol tablets.

Allopurinol is used to prevent or lower high uric acid levels in the blood. It is also used to prevent or lower excess uric acid levels caused by cancer medicines or in patients with kidney stones.

The drug is the generic equivalent of the reference listed drug (RLD), Zyloprim, marketed by Casper Pharma LLC.

Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs).

 

The pharmaceutical company reported a standalone net loss of Rs 10.23 crore in Q3 FY25 as against a net profit of Rs 20.01 crore posted in Q3 FY24. Revenue from operations stood at Rs 364.91 crore in the third quarter of FY25, down 18.61% as against Rs 448.38 crore posted in Q3 FY24.

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