Unichem stock up 3.5% on USFDA nod for schizophrenia tablets

Shares of Unichem Laboratories rose by 3.5 per cent today following the USFDA approval for its generic Quetiapine Fumarate tablets used for treatment of schizophrenia and bipolar disorder.
The stock settled the day at Rs 231, up 3.40 per cent on BSE. During the day, it climbed 5.37 per cent to Rs 235.40.
On NSE, it went up 3.55 per cent to close at Rs 231.55.
"The company has received Abbreviated New Drug Application (ANDA) approval from the United States Food and Drug Administration (USFDA) for Quetiapine Fumarate tablets," Unichem Laboratories said in a filing to BSE.
The approval is for the company's tablets in strengths of 25 mg, 50 mg, 100 mg, 200 mg, 300 mg and 400 mg, it added.

"The product will be commercialised from Unichem's Ghaziabad plant. Active Pharmaceutical Ingredient will also be made in house at Pithampur API plant," the company said.