Piramal Enterprises rose 1.22% to Rs 2689.20 at 9:43 IST on BSE after the company launched Mitigo in the US market.
The announcement was made after market hours yesterday, 11 March 2019.Meanwhile, the S&P BSE Sensex was up 335.48 points, or 0.91% to 37,389.58.
On the BSE, 8,833 shares were traded in the counter so far compared with average daily volumes of 41,000 shares in the past two weeks. The stock had hit a high of Rs 2697.80 and a low of Rs 2680 so far during the day. The stock hit a 52-week high of Rs 3,302.55 on 31 August 2018. The stock hit a 52-week low of Rs 1,796.75 on 26 October 2018.
Piramal Critical Care, a global leader in anesthesia, pain management, and intrathecal therapy, announced the launch of Mitigo (morphine sulfate injection, USP - preservative-free) in 10 mg/mL and 25 mg/mL concentrations in the US market.
Piramal Critical Care will continue to work with wholesalers, hospitals, interventional pain doctors, and pain management centers across the country to ensure availability of Mitigo for patients with intractable chronic pain.
Mitigo is an opioid agonist, for use in continuous microinfusion devices indicated only for intrathecal or epidural infusion for the management of intractable chronic pain severe enough to require an opioid analgesic and for which alternative treatments are inadequate.
Piramal Critical Care, a business unit of Piramal Enterprises, is a global leader in anesthesia, pain management, and intrathecal therapy.
On a consolidated basis, net profit of Piramal Enterprises rose 23.03% to Rs 603.98 crore on 22.07% rise in net sales to Rs 3489.08 crore in Q3 December 2018 over Q3 December 2017.
Piramal Enterprises is one of India's large diversified companies, with a presence in financial services, pharmaceuticals and healthcare insights & analytics.
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