Stocks

UK nod boosts Shipa Medicare

Our Bureau Chennai | Updated on April 07, 2020 Published on April 07, 2020

istock/retrorocket

Shares of Shipa Medicare on Tuesday locked in the 5-per cent upper circuit after the pharma company said it has received the UK health regulator’s approval for its anti-cancer drug, Imatinib. The stock closed at ₹282.95 on BSE, up 4.99 per cent.

Its UK-based subsidiary Koanaa Healthcare has received the approval from the Medicines and Healthcare products Regulatory Authority (MHRA) for Imatinib oral solution.

“The approval of Imatinib Oral Solution represents a major step forward in treatment options for cancers in paediatric and geriatric patients, patients with swallowing difficulties, and also offers dose titration across the patient population,” said the company in its BSE filing.

The drug should be available in the UK in the second quarter of 2020 and would be supplied from its UK-based manufacturing facility, LM Pharmaceuticals, the company said. Imatinib Oral Solution is an innovative product and is expected to have patent protection until 2038, it added.

The worldwide market is approximately $1.6 billion and in the UK, it is around $104.4, million as per IQVIA MAT Q4 2019 data, the firm said.

The stock had hit a 52-week high of ₹538.75 and a year low of ₹190.80 on BSE.

Published on April 07, 2020

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.