Panacea Biotec surges 15% on getting USFDA approval

The product has been launched in the market by Apotex Corp., the largest Canadian-owned pharmaceutical company which is the exclusive sales and distribution partner for this product in the US.

Oct 24, 2017 07:10 IST India Infoline News Service

Shares of Panacea Biotec surged 15.3% at 12:50 PM after the company announced that its first-to-file ANDA of Prasugrel 5mg and 10mg tablets has been approved by the United States Food & Drug Administration (U.S.FDA).

Under the provisions of Hatch-Waxman Act, the Company is entitled for 180-days of shared marketing exclusivity for Prasugrel HCL tablets with this final FDA approval.

According to an official release, the product has been launched in the market by Apotex Corp., the largest Canadian-owned pharmaceutical company which is the exclusive sales and distribution partner for this product in the US. 

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