Panacea Biotec surges 15% on launch of Prasugrel drug in US market

The stock surged 15% to Rs 276, also its 52-week high on the BSE

Panacea Biotec surged 15% to Rs 276, also its 52-week high on the BSE, after the company announced the launch of Prasugrel tablets in US market.

The company said that its first-to-file Abbreviated. New Drug Application (ANDA) of Prasugrel 5mg and 10mg tablets have been approved by the United States Food & Drug Administration (U.S.FDA).

Under the provisions of Hatch-Waxman Act, the Company is entitled for 180-days of shared marketing exclusivity for Prasugrel HCL tablets with this final FDA approval,” Panacea Biotec said in a press release.

The company earlier got the tentative approval for this ANDA