Shares of Shilpa Medicare
gained 1% on Tuesday after the company received the approval from the US Food and Drug Administration (USFDA) for its ANDA Gemcitabine (Injection) USP, 200mg/vial and 1g/vial.
Gemcitabine for Injection USP is a generic equivalent of reference-listed drug (RLD) GEMZAR, which is used in the treatment of ovarian cancer, breast cancer, non-small cell lung cancer, and pancreatic cancer as recommended in the label approved by the FDA, the company said in a press note to the exchanges on Tuesday.
According to IQVIA MAT data released in December 2018, the US market for Gemcitabine for Injection USP, 200mg/vial and 1g/vlal was ~$11.7mn.
Shilpa Medicare Ltd share price is currently at Rs353.80, up Rs3.65, or 1.04%, from its previous close of Rs350.15 on the BSE.
The scrip opened at Rs355.90 and has touched a high and low of Rs366.50 and Rs350, respectively. So far, 27,687 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs2,854.66cr.