Claris Lifesciences shares rose nearly 6 per cent after the company received approval from the US health regulator for generic Tobramycin injection used for the treatment of bacterial infection in the American market.
The stock climbed 5.59 per cent to settle at Rs 229.35 on the BSE. During the day, it gained 13.28 per cent to Rs 246.05.
The company’s market valuation rose Rs 66.51 crore to Rs 1,251.51 crore.
“The company has received abbreviated new drug application (ANDA) approval from the United States Food and Drug Administration (USFDA) for Tobramycin injection USP, 80 mg/2 mL and 1,200 mg/30 mL multiple dose vials,” Claris Lifesciences had said in a BSE filing yesterday.
The estimated market size of the product in the US is $6 million. The product is currently in the shortage list of the USFDA, it added.
With this, the company has 14 approvals and 24 under approval ANDAs and expects more product approvals during the year, Claris Lifesciences said.
More Like This
Published on July 7, 2016
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.