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Bajaj Healthcare shares zoomed 10.5 per cent in trade on BSE, recording an all time high at Rs 744.9 per share. The buying in the stock sparked after the company received a recommendation from the Subject Expert Committee (SEC) (Neurology & Psychiatry) of the Central Drugs Standard Control Organisation (CDSCO) to conduct Phase III clinical trials for Cenobamate Tablets.
Cenobamate is an advanced anti-seizure medication used for the treatment of partial-onset seizures in adults. It functions by regulating excessive neuronal activity, significantly reducing seizure frequency, and improving patient outcomes.
Around 1:03 PM, Bajaj Healthcare share price was up 6.2 per cent at Rs 715.6 per share on BSE. In comparison, the BSE Sensex was up 0.3 per cent at 75,523.48. The market capitalisation of the company stood at Rs 2,260.10 crore. The 52-week high of the stock was at Rs 744.9 per share and the 52-week low was at Rs 265 per share.
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In phase III clinical trials for Cenobamate Tablets, the company will test the strengths of tablets of 12.5mg, 25mg, 50mg, 100mg, 150mg, and 200mg.
Phase III clinical trials are the final stage of drug development before regulatory approval. These large-scale trials will evaluate the efficacy, safety, and tolerability of Cenobamate Tablets in a diverse patient population. Upon successful completion of the study, Bajaj Healthcare will seek final approval for commercial launch in the Indian market. The Active Pharmaceutical Ingredient (API) will also be manufactured by the company.
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“We are delighted with this approval from the SEC and look forward to proceeding with the required activities in due course time. Backed by our R&D capabilities and manufacturing infrastructure, we are hopeful to bring Cenobamate to the Indian market. With the rising demand for innovative and effective epilepsy treatments, we remain committed to addressing this critical need with high-quality pharmaceutical solutions," said Anil Jain, managing director, Bajaj Healthcare.
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Established in the year 1993, Bajaj Healthcare specialises in manufacturing intermediates, API, formulations, and nutraceuticals. The company has state-of-art manufacturing facilities for APIs, intermediates, and formulations. These facilities are designed to meet the requirements of both advanced as well as emerging market opportunities. BHL has a strong presence globally in countries like Europe, the USA, Australia, the Middle East, and South America.
In the past one year, Bajaj Healthcare shares have gained 124 per cent against Sensex's rise of 4.5 per cent.
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