Unichem Soars on USFDA Nod for Hypertension Pill

11 Jan 2024 , 02:49 PM

At midday on January 11, the share price of Unichem Laboratories reached a 52-week high of Rs 479.25 following the approval of a generic version of a hypertension medication by the US Food and Drug Administration.

Unichem Laboratories was trading at Rs 479.10 at 12:04 in the morning, up Rs 33.60, or 7.54%, on the BSE.

‘…… has received ANDA approval for its Doxazosin Tablets USP, 1 mg, 2 mg, 4 mg and 8 mg from United States Food and Drug Administration (USFDA) to market generic version of Cardura (Doxazosin) Tablets, 1 mg, 2 mg, 4 mg and 8 mg, of Viatris Specialty, LLC,’ the business stated.

It is recommended to use doxazosin to treat hypertension in order to reduce blood pressure.

The company’s plant in Goa will handle the product’s commercialization.

In a second round of divestiture in the pharmaceutical company, the corporation sold Sekhmet Pharmaventures shares it owned in Optimus Drugs in December for a total of Rs 67.47 crore. Sekhmet Pharmaventures purchased 19.97% of the stock in Optimus from Unichem in May 2022.

According to the firm, Unichem offers a number of pharmaceutical products in the therapeutic domains of neurology, psychiatry, gastrointestinal, cardiology, diabetology, anti-bacterial, anti-infectives, and pain management.

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