Caplin Point Laboratories rose 1.25% to Rs 663.75 after the company's subsidiary, Caplin Steriles, received final approval from US Food and Drug Administration for its abbreviated new drug application (ANDA) Rocuronium Bromide injection.
The said drug is generic therapeutic equivalent to reference listed drug (RLD), ZEMURON injection, of Organon USA Inc.Rocuronium Bromide injection is a neuromuscular blocking agent, indicated as an adjunct to general anesthesia to facilitate both rapid sequence and routine tracheal intubation, and to provide skeletal muscle relaxation during surgery or mechanical ventilation.
According to IQVIA (IMS Health), Rocuronium Bromide Injection had US sales of approximately $53 million for the 12-month period ending September 2022.
C. C. Paarthipan, chairman of Caplin Point Laboratories said, "This is an important product in our anesthesia portfolio for global markets, and we look forward to launching it in the US in the coming months."
Caplin Point Laboratories is engaged in the business of pharmaceuticals - producing, developing and marketing wide range of generic formulations and branded products and exporting to overseas market.
The company's consolidated net profit jumped 30.1% to Rs 97.48 crore on 14.1% rise in net sales to Rs 372.07 crore in Q3 FY23 over Q3 FY22.
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