Jubilant Life Sciences is trading higher by 3% at Rs 165 after the company received an approval from the US Food and Drug Administration (USFDA) for donepezil hydrochloride tablets, a generic equivalent of Aricept.
“Donepezil Hydrochloride tablets are indicated for the treatment of dementia of the Alzheimer’s type, in patients with mild, moderate and severe Alzheimer’s disease. The total annual market sales for Aricept 5 mg and 10 mg tablets were $2.6 billion, according to IMS-MAT: September 2010,” the company said in a filing to the stock exchanges.
The product will be marketed by the US subsidiary Jubilant Cadista Pharmaceuticals Inc. under its label. With this approval, Jubilant Cadista will have 15 commercialized products in the US market, it added.
The stock opened at Rs 163 and hit a high of Rs 169 on the BSE. As many as 28,000 shares have already changed hands on the counter till 1137 hours, against an average around 18,000 shares traded daily in the past two weeks.