Ajanta Pharma advanced 1.2 percent to Rs 1,795.30 on BSE after the company announced the receipt of final approval for Duloxetine Hydrochloride Delayed Release Capsules from USFDA.
The announcement was made after market hours yesterday, 9 January 2017.
Meanwhile, the S&P BSE Sensex was up 116.9 points or 0.44 percent at 26,843.4.
On the BSE, 5,751 shares were traded on the counter so far as against the average daily volumes of 10,657 shares in the past one quarter. The stock had hit a high of Rs 1,819.75 and a low of Rs 1,793.20 so far during the day.
The stock had hit a record high of Rs 2,150 on 28 October 2016. The stock had hit a 52-week low of Rs 1,103 on 18 January 2016. The stock had underperformed the market over the past 30 days till 9 January 2017, falling 5.23 percent compared with Sensex's 0.08 percent fall.
The scrip had also underperformed the market in past one quarter, sliding 9.23 percent as against Sensex's 4.83 percent decline.
The large-cap company has equity capital of Rs 17.60 crore. Face value per share is Rs 2.
Ajanta Pharma announced the receipt of final approval for Duloxetine Hydrochloride Delayed Release Capsules from US Food and Drug Administration (US FDA). It is a bioequivalent generic version of Cymbalta1 Delayed Release Capsules. The company will be launching the product shortly in 3 strengths, 20 mg, 30 mg and 60 mg strengths capsules.
Duloxetine Hydrochloride Delayed Release Capsules is part of an ever growing portfolio of products that Ajanta has developed for the US market. In total, Ajanta has 32 Abbreviated New Drug Application (ANDA) of which it has 17 final ANDA approvals, 2 tentative approvals and 13 ANDAs under review with US FDA.
On a consolidated basis, net profit of Ajanta Pharma rose 119.55 percent to Rs 130.66 crore on 14.57 percent rise in net sales to Rs 502.38 crore in Q2 September 2016 over Q2 September 2015.
Ajanta Pharma is a specialty pharmaceutical formulation company with global headquarters in Mumbai. The company is engaged in developing, manufacturing and marketing of quality finished dosages across 30 plus countries.
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