Granules India gained 2.12% to Rs 91.5 at 12:15 IST on the BSE after the company said it received US drug regulator's approval for Amphetamine Sulfate tablets.
The announcement was made during market hours today, 6 August 2019.
Meanwhile, the S&P BSE Sensex was up by 179.32 points or 0.49% at 36,879.87.
On the BSE, 23000 shares were traded in the counter so far compared with average daily volumes of 81000 shares in the past two weeks. The stock had hit an intraday high of Rs 92 and an intraday low of Rs 89.15 so far during the day. The stock hit a 52-week high of Rs 123.35 on 10 September 2018 and a 52-week low of Rs 79 on 10 December 2018.
The company said that the US Food & Drug Administration (US FDA) has approved the Abbreviated New Drug Application (ANDA) filed by Granules Pharmaceuticals, Inc., a wholly owned foreign subsidiary of Granules India, for Amphetamine Sulfate tablets USP 5 mg and 10 mg.
Amphetamine Sulfate tablets is a central nervous system stimulant used to treat sleep disorder, increase attention, decrease impulsiveness and hyperactivity in patients with Attention Deficit Hyperactivity Disorder (ADHD).
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On consolidated basis, the company's net profit increased 60.7% to Rs 83.24 crore on 31.3% rise in net sales to Rs 595.27 crore in Q1 June 2019 over Q1 June 2018.
Granules India is engaged in manufacturing Active Pharmaceutical Ingredient (API), Pharmaceutical Formulation Intermediate (PFI) and Finished Dosage (FD). The company has a global presence across 60+ countries servicing over 250 customers.
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