Ranbaxy Laboratories rose 0.22% to Rs 482 at 9:52 IST on BSE after the company said it received an approval to manufacture and market RAN-Donepezil Hydrochloride tablets in Canada.
The announcement was made during trading hours today, 8 January 2014.
Meanwhile, the BSE Sensex was up 50.90 points, or 0.25%, to 20,744.14.
On BSE, so far 62,000 shares were traded in the counter, compared with an average volume of 4.46 lakh shares in the past one quarter.
The stock hit a high of Rs 485.50 and a low of Rs 476 so far during the day. The stock hit a 52-week high of Rs 514.20 on 8 January 2013. The stock hit a 52-week low of Rs 253.95 on 2 August 2013.
The stock had outperformed the market over the past one month till 7 January 2014, rising 10.70% compared with the Sensex's 1.44% fall. The scrip had also outperformed the market in past one quarter, rising 26.27% as against Sensex's 4.01% rise.
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The large-cap company has an equity capital of Rs 211.87 crore. Face value per share is Rs 5.
Ranbaxy Pharmaceuticals Canada Inc. (RPCI), a wholly-owned subsidiary of Ranbaxy Laboratories (RLL), announced that RPCI received approval on 24 December 2013 to manufacture and market RAN-Donepezil Hydrochloride 5 milligram (mg) and 10 mg tablets from Health Canada. Total market size of Aricept (Donepezil Hydrochloride) in Canada is $153.9 million ($CAD) and growing at 38% (extended units). Donepezil Hydrochloride is indicated in the treatment of dementia in Alzheimer's patients.
"We are pleased to have gained approval for Donepezil Hydrochloride from Health Canada and proud to announce a day one launch! The finished dosage form will be manufactured at Ohm Laboratories located in New Jersey, U.S.A. and Ranbaxy anticipates this launch will be beneficial to patients and healthcare professionals, as well as a positive economic benefit to the healthcare system of Canada," said Paul Drake, President, RPCI.
Canada-based RPCI is engaged in the sale and distribution of generic prescription products in the Canadian healthcare system.
Ranbaxy Laboratories reported a consolidated net loss of Rs 454.17 crore in Q3 September 2013 compared with net profit of Rs 754.17 crore in Q3 September 2012. Net sales rose 3.1% to Rs 2750.17 crore in Q3 September 2013 over Q3 September 2012.
Ranbaxy Laboratories, India's largest pharmaceutical company, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy is a member of the Daiichi Sankyo Group.
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