Jubilant Pharmova zooms ~6% as USFDA approves diagnostic drug

13 Nov 2023 , 01:29 AM

Jubilant Pharmova Ltd.’s stock climbed more than 6% to Rs 438.90 after its subsidiary Jubilant Draximage Inc. received USFDA nod for its radiopharmaceutical diagnostic medication.

According to an exchange filing, the US Food and Drug Administration accepted the company’s abbreviated new medication application for Technetium (Tc 99m) Sulphur Colloid Injection.

At around 1.25 PM, Jubilant Pharmova was trading 1.12% higher at Rs 416.90, against the previous close of Rs 412.30 on NSE. 

According to the filing, Technetium Sulphur Colloid Injection is used in the localization of metastatic lymph nodes in patients with breast cancer and melanoma, imaging of areas of the liver, spleen, and bone marrow, and studies of esophageal transit, gastroesophageal reflux, and detection of pulmonary aspiration of gastric contents.

This approval is effective as of November 9, and Jubilant is eligible for 180 days of exclusivity under the USFDA’s ‘Competitive Generic Therapy’ classification.

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