Jubilant Life Sciences rose 6.15% to Rs 169.10 at 10:03 IST on BSE after the company said it received final approval from the US health regulator for generic Montelukast Sodium chewable tablets used in the treatment of asthma.
The announcement was made after market hours yesterday, 2 March 2015.
Meanwhile, the BSE Sensex was up 4.03 points, or 0.01%, to 29,463.17.
On BSE, so far 1.69 lakh shares were traded in the counter, compared with an average volume of 1.50 lakh shares in the past one quarter.
The stock hit a high of Rs 175.15 and a low of Rs 168.05 so far during the day. The stock hit a 52-week high of Rs 222 on 13 June 2014. The stock hit a 52-week low of Rs 116.10 on 17 December 2014.
The stock had underperformed the market over the past one month till 2 March 2015, falling 6.46% compared with 1.16% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 19.10% as against Sensex's 3.57% rise.
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The small-cap integrated pharmaceuticals and life sciences company has an equity capital of Rs 15.93 crore. Face value per share is Re 1.
Jubilant Life Sciences has received Abbreviated New Drug Application (ANDA) final approval from the US Food and Drug Administration (US FDA) for Montelukast Sodium Chewable Tablets, 4 mg and 5 mg, the generic version of Singulair Chewable Tablets (of Merck), which is used for the treatment of asthma and to relieve symptoms of seasonal allergies. The total market size for Montelukast Tablets as per IMS is $83 million per annum in the US market.
As on 31 December 2014, Jubilant Life Sciences had a total of 781 filings for formulations of which 333 have been approved in various regions globally. This includes 72 ANDAs filed in the US, of which 35 have been approved and 46 Dossier filings in Europe. So far, we have received 10 ANDA approvals during FY 2015.
On consolidated basis, Jubilant Life Sciences reported a net loss of Rs 11.16 crore in Q3 December 2014 compared with net profit of Rs 143.43 crore in Q3 December 2013. Net sales rose 0.2% to Rs 1430.25 crore in Q3 December 2014 over Q3 December 2013.
Jubilant Life Sciences is engaged in manufacture and supply of APIs, solid dosage formulations, specialty pharmaceuticals and life science ingredients. It also provides services in contract manufacturing and drug discovery solutions. The company's strength lies in its unique offerings of pharmaceutical and life sciences products and services across the value chain. With 10 world-class manufacturing facilities in India, US and Canada and a team of about 6,100 multicultural people across the globe, the company is committed to deliver value to its customers spread across over 100 countries.
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