Ajanta Pharma gains on getting approvals for three ANDAs

The stock has surged 5% at Rs 1,629 after the company said that it has received the final approval from US FDA for its three ANDAs.

Shares of Ajanta Pharma has moved higher by 5% at Rs 1,629 on the BSE after the company announced that it has received final approval from US Food and Drug Administration (FDA) for its three Abbreviated  New Drug Application (ANDAs) – Montelukast tablets, sodium chewable tablets and oral granules.

Montelukast sodium chewable tablets, 10 mg, the generic version of singulair tablets by Merck, is indicated for treatment of prophylaxis and chromic treatment of asthma and to relieve symptoms of seasonal and perennial allergic rhinitis in patients two years of age and older, Ajanta Pharma said in a press release.

The company intends to launch these products shortly, Ajanta Pharma added.

According to IMS Health, Montelukast tablets, chewable tablets and oral granules had sales of approximately $237 million, $87 million and $31 million respectively for the 12 months ending June 2015.

Including these three ANDA approvals, Ajanta now has five approved ANDAs and another 20 ANDAs under approval with FDA, the company added.

The stock haws touched a high of Rs 1,642 so far and has seen a combined 245,369 shares changing hands on the counter on the BSE and NSE till 10:47 AM.