Jubilant Life Sciences gained 3.82% to Rs 820.40 at 11:40 IST on BSE after the company received Abbreviated New Drug Application final approval for Olmesartan Medoxomil Tablets, 5 mg, 20 mg and 40 mg.
The announcement was made during market hours today, 25 April 2017.Meanwhile, the S&P BSE Sensex was up 185.93 points or 0.63% at 29,841.77.
On the BSE, 97,280 shares were traded on the counter so far as against the average daily volumes of 1.05 lakh shares in the past one quarter. The stock had hit a high of Rs 835.30 and a low of Rs 792.90 so far during the day.
The stock had hit a record high of Rs 879.10 on 12 April 2017 and a 52-week low of Rs 294.20 on 24 June 2016.
It had outperformed the market over the past one month till 24 April 2017, gaining 1.07% compared with the Sensex's 0.8% rise. The scrip had also outperformed the market over the past one quarter, advancing 13.83% as against the Sensex's 8.33% rise.
The large-cap company has equity capital of Rs 15.93 crore. Face value per share is Rs 1.
Jubilant Life Sciences announced that it has received Abbreviated New Drug Application (ANDA) final approval for Olmesartan Medoxomil Tablets, 5 mg, 20 mg and 40 mg from the United States Food & Drug Administration (USFDA).
Olmesartan Medoxomil Tablets, 5 mg, 20 mg and 40 mg is the generic version of Benicar of Daiichi Sankyo, which is used for the treatment of hypertension.
This is the second approval that the company has received from the USFDA during the current financial year. The company had a total of 73 ANDAs for oral solids filed in the US, of which 49 have been approved.
Jubilant Life Sciences' consolidated net profit fell 2.6% to Rs 119.78 crore on 8.7% rise in net sales to Rs 1438.81 crore in Q3 December 2016 over Q3 December 2015.
Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients and drug discovery solutions. The pharmaceuticals segment, through its wholly owned subsidiary Jubilant Pharma, is engaged in manufacture and supply of APIs, solid dosage formulations, radiopharmaceuticals, allergy therapy products and contract manufacturing of sterile and non-sterile products through 6 USFDA approved manufacturing facilities in India, USA and Canada.
The life science ingredients segment, is engaged in specialty intermediates, nutritional products and life science chemicals through 5 manufacturing facilities in India. The drug discovery solutions segment, provides proprietary in-house innovation & collaborative research and partnership for out-licensing through 3 world class research centres in India and USA.
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