Laurus Labs rose 2.97% to Rs 539.45 at 10:49 IST on BSE after the company said it received maiden tentative approval from US drug regulator for Tenofovir Disoproxil Fumarate tablets.
The announcement was made after market hours yesterday, 30 November 2017.Meanwhile, the S&P BSE Sensex was up 59.12 points, or 0.18% to 33,208.47.
On the BSE, 11,000 shares were traded in the counter so far, compared with average daily volumes of 24,547 shares in the past one quarter. The stock had hit a high of Rs 550 and a low of Rs 535.70 so far during the day. The stock hit a record high of Rs 634 on 12 June 2017. The stock hit a record low of Rs 453 on 26 December 2016.
Laurus Labs announced that it has received its maiden tentative approval from United States Food and Drug Administration (USFDA) for Tenofovir Disoproxil Fumarate tablets 300 milligram (mg). Tenofovir Disoproxil Fumarate tablets 300 mg is therapeutically equivalent to VIREAD tablets 300mg of Gilead Science. Tenofovir Disoproxil Fumarate tablets 300mg is used for treatment of HIV-1 infection in adults and paediatric patients 2 years of age and older.
On a consolidated basis, net profit of Laurus Labs rose 0.99% to Rs 48.76 crore on 4.28% rise in net sales to Rs 538.61 crore in Q2 September 2017 over Q2 September 2016.
Laurus Labs is a research and development driven pharmaceutical company in India.
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