Lincoln Pharmaceuticals rose 2.78% to Rs 118.20 at 13:10 IST on BSE after the company said it launched a cough syrup brand, Namcold-DX, in India.
The announcement was made during trading hours today, 13 August 2015.
Meanwhile, the BSE Sensex was up 149.44 points, or 0.54%, to 27,661.70.
On BSE, so far 3.15 lakh shares were traded in the counter, compared with an average volume of 1.67 lakh shares in the past one quarter.
The stock hit a high of Rs 122 and a low of Rs 116 so far during the day. The stock hit a record high of Rs 127.70 on 10 August 2015. The stock hit a 52-week low of Rs 38.50 on 14 August 2014.
The stock had outperformed the market over the past one month till 12 August 2015, rising 37.31% compared with 0.54% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 44.29% as against Sensex's 2.36% rise.
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The small-cap company has an equity capital of Rs 16.31 crore. Face value per share is Rs 10.
Lincoln Pharmaceuticals announced that its R&D (research and development) team successfully launched a cough syrup brand Namcold-DX, which contains Dextromethorphan Polistirex. This is an extended release, unique product of novel technology. Normal cough syrups are effective upto 3-4 hours, so in 24 hours the patient has to take the syrup 4 to 5 times. However, Namcold-DX is an extended release product, so the drug releases periodically and therefore the patient has to take only 2 doses during 24 hours.
Dextromethorphan Polistirex is a liquid oral suspension with advanced Pennkinetic delivery system. First, uncoated particles of Dextromethorphan are released rapidly in the stomach to provide immediate effect while Polymer-coated particles provide sustained release of Dextromethorphan in the intestine. Dextromethorphan, a centrally acting non-opioid antitussive, acts centrally by depressing the cough center in the medulla of the brain and therefore elevates the threshold for coughing. Its antitussive potency is nearly equal to that of codeine, the company said in a statement.
Namcold-DX is designed for all age group of patient above 4 years. The product is time tested and many trials have been done and it is approved by DCGI (Drug Controller General of India), the company said.
Lincoln Pharmaceuticals said it will get more benefit in the market out of this unique product and the bottom line will also improve.
On a consolidated basis, net profit of Lincoln Pharmaceuticals rose 129.47% to Rs 6.54 crore on 55.97% rise in net sales to Rs 73.23 crore in Q1 June 2015 over Q1 June 2014.
Ahmedabad-based Lincoln Pharmaceuticals is engaged in manufacturing and exporting pharmaceuticals formulations under various therapeutic product group.
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