Jubilant Life Sciences rose 1.67% to Rs 718.50 at 11:17 IST on BSE after the company said it received US drug regulator's approval for Bupropion Hydrochloride extended-release tablets.
The announcement was made during trading hours today, 6 July 2017.Meanwhile, the S&P BSE Sensex was up 160.84 points, or 0.51% to 31,406.40.
On the BSE, 36,000 shares were traded in the counter so far, compared with average daily volumes of 80,604 shares in the past one quarter. The stock had hit a high of Rs 724 and a low of Rs 706 so far during the day. The stock hit a record high of Rs 879.10 on 12 April 2017. The stock hit a 52-week low of Rs 298.05 on 18 July 2016.
The stock had underperformed the market over the past one month till 5 July 2017, falling 4.53% compared with 0.18% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 15.38% as against Sensex's 4.40% rise. The scrip had outperformed the market in past one year, rising 122.72% as against Sensex's 15.01% rise.
The large-cap company has equity capital of Rs 15.93 crore. Face value per share is Re 1.
Jubilant Life Sciences announced that Jubilant Pharma, a material wholly owned subsidiary of the company, through one of its wholly-owned subsidiaries, has received abbreviated new drug application (ANDA) final approval for Bupropion Hydrochloride extended-release tablets USP (XL), 150 mg and 300 mg, the generic version of Wellbutrin XL of Valeant, which is used for the treatment of major depressive disorder and prevention of seasonal affective disorder.
This is the fourth approval that the company has received from the US Food and Drug Administration (USFDA) during the current financial year. As on 31 March 2017, Jubilant Life Sciences had a total of 81 ANDAs for oral solids filed in the US, of which 51 have been approved.
Also Read
Jubilant Life Sciences' consolidated net profit spurted 1272.3% to Rs 149.03 crore on 7% growth in net sales to Rs 1565.79 crore in Q4 March 2017 over Q4 March 2016.
Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients and drug discovery solutions.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content