Laurus Labs receives 2 USFDA approvals; stock gains 4%

The company received a tentative approval for an ANDA for ADL (Abacavir, Dolutegravir, and Lamivudine) Tablets.

Mar 11, 2019 03:03 IST India Infoline News Service

Laurus Labs
Shares of Laurus Labs gained 4% on Monday after the company received approval for Hydroxychloroquine Tablets 200 mg and ADL (Abacavir, Dolutegravir, and Lamivudine) Tablets.

Accordingly, the company received final approval from United States Food and Drug Administration (USFDA) for Hydroxychloroquine Tablets 200 mg and received a tentative approval for an ANDA for ADL (Abacavir, Dolutegravir, and Lamivudine) Tablets 600 mg/50 mg/300 mg, the company said in a press note to the exchanges on Monday.

"The products will be commercialized from Lamus' manufacturing site located at Atchutapuram, Visakhapatnam," the company added. 

Laurus Labs Ltd's share price is currently trading at Rs364.95, up by Rs14.85 or 4.24%, from its previous close of Rs350.10 on the BSE.
The scrip opened at Rs360 and has touched a high and low of Rs371.40 and Rs354.50, respectively. So far, 10,98,446 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs3,726.35cr.

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