Jubilant Life gains on ANDA approval for generic drug

Jubilant Life Sciences was up 3.4% at Rs 961, extending its 3% gain in past two days on BSE, after the company announced that it has received Abbreviated New Drug Application (ANDA) approval for Clonidine Hydrochloride Extended-Release Tablets.

“Jubilant Pharma, a material wholly owned subsidiary of the Company, through one of its wholly owned subsidiaries, has received Abbreviated New Drug Application (ANDA) final approval for Clonidine Hydrochloride Extended-Release Tablets, 0.1 mg, the generic version of Kapvay® of Concordia,” Jubilant Life Sciences said in a press release.

Concordia is used for the treatment of attention deficit hyperactivity disorder (ADHD) as monotherapy or as adjunctive therapy to stimulant medications.

This is the eighth approval that we have received from the USFDA during the current financial year. As on December 31, 2017, Jubilant had a total of 86 ANDAs for Oral Solids filed in the US, of which 56 had been approved and 12 Injectable filings, of which 10 had been approved, it added.

At 09:55 AM; the stock was trading higher by 3% at Rs 956 against 0.18% decline in the S&P BSE Sensex. A combined 410,367 shares changed hands on the counter on BSE and NSE so far.


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