Granules India up 7% on USFDA nod for generic Methylergonovine tablets

The stock rallied 7% to Rs 104 after the company said Granules Pharmaceuticals Inc., a wholly owned subsidiary of the company, received USFDA approval for generic Methylergonovine tablets.

Shares of Granules India have rallied 7% to Rs 104 per share on the BSE in early morning trade after the pharmaceuticals company said Granules Pharmaceuticals Inc., a wholly owned subsidiary of the company, received US health regulatory approval for generic Methylergonovine tablets.

“The United States Food and Drug Administration (US-FDA) has approved its Abbreviated New Drug Applications (ANDA) for Methylergonovine 0.2 mg Tablets. The ANDA was filed by Granules Pharmaceuticals Inc., a wholly owned subsidiary of Granules India. The approved ANDA is the bioequivalent to the reference listed drug product (RLD), Methergine 0.2 MG,” the company said in a press release.

Methylergonovine is a semi—synthetic ergot alkaloid used for the prevention and control of postpartum haemorrhage, it added.

Till 09:39 am; a combined 2.6 million equity shares have already changed hands on the counter in first 30 minutes of trade on the BSE and NSE.