Jubilant Life hits record high on ANDA approval for Felodipine ER tablets

Jubilant Life Sciences hit a record high of Rs 539, up 6% on the BSE, after the pharmaceutical company said it has received Abbreviated New Drug Application (ANDA) final approval for Felodipine Extended-Release tablets USP, 2.5 mg, 5 mg, and 10 mg, the generic version of Plendil tablets of AstraZeneca, which is used for the treatment of hypertension.

As on June 30, 2016, Jubilant Life Sciences had a total of 770 filings for Oral Solids of which 578 have been approved in various regions globally. This includes 70 ANDAs filed in the US, of which 44 have been approved and 104 filings in Europe.

On Wednesday, August 24, Jubilant Life Sciences announced that it had received ANDA final approval for Telmisartan tablets, USP 20, 40 and 80mg, the generic version of Micardis tablets of Boehringer Ingelheim Pharmaceuticals Inc., which is used for the treatment of hypertension.

Post April-June quarter (Q1FY17) results, the stock outperformed the market by surging 63% from Rs 330 on August 8, after the pharmaceutical company reported a healthy margin expansion for the quarter ended June 30, 2016 (Q1FY17).

The Ebitda (earnings before interest, taxes, depreciation and amortisation) margin expanded 350 basis points at 26.2% in Q1FY17, up from 22.7% in the same quarter last year.

Till 11:24 am, a combined 2.5 million shares changed hands on the counter on the NSE and BSE.

 


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