Stocks

Laurus Labs shares surge 5% on US FDA nod

BL Internet Desk Chennai | Updated on January 09, 2018 Published on December 01, 2017

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Shares of Laurus Labs shot up as much as 5 per cent on Friday.

At about 10.30 am, Laurus Labs was trading 3.24 per cent or Rs 16.95 higher at Rs 540.85 on the BSE at about 10.30 am. The stock had surged 4.9 per cent to a high of Rs 550 in opening trade against Thursday's close of Rs 523.90.

On Thurday, the company said it has received tentative approval from the US health regulator to market Tenofovir Disoproxil Fumarate tablets used in HIV-1 infections in adults and children over 2 years.

The approval by the US Food and Drug Administration (USFDA) is for tablets of 300 mg, Laurus Labs said in a BSE filing. Tenofovir is the generic of Gilead Science's Viread tablets.

Also read: Laurus Labs to focus on formulations; will invest ₹300 crore this fiscal

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Published on December 01, 2017
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