The Nifty Pharma index was quoting higher for the fifth straight trading day, surging 3.8 per cent during the period, as against 0.37 per cent gain in Nifty 50.
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Over the past decade, Granules India, the brokerage said, has transitioned from a bulk API-led model to a US-focused formulations platform, with rising exposure to complex and differentiated products
The scrip gained as much as 4.32 per cent to ₹589.40, the highest level since January 19 on the National Stock Exchange (NSE)
Granules India Ltd on Thursday said its arm Granules Pharmaceuticals, Inc has received tentative approval from the US health regulator for its generic amphetamine extended-release tablets indicated for treatment of attention deficit hyperactivity disorder, with eligibility of 180-day exclusivity. The tentative approval by the US Food and Drug Administration (USFDA) is for the abbreviated new drug application (ANDA) of Amphetamine extended-release tablets in strengths of 5 mg, 10 mg, 15 mg, and 20 mg, Granules India Ltd said in a regulatory filing. These are the generic equivalent of DYANAVEL XR, it added. "The Granules ANDA has been determined to be eligible for 180-day exclusivity by the FDA, reinforcing its growing capabilities in developing and commercialising complex and differentiated generic products for the US market," the company said. The product is indicated for the treatment of attention deficit hyperactivity disorder (ADHD) and has an estimated market size of USD 41 ...
Granules India plans to raise up to ₹1,762 crore from promoter, and non-promoter groups through a mix of convertible warrants and preferential issue of equity shares.