Share price of Caplin Point Laboratories jumped more than 13 percent intraday on March 26 after the company got United States Food and Drug Administration (USFDA) approval for Verapamil Hydrochloride Injection USP.
Caplin Steriles has been granted final approval for its abbreviated new drug application (ANDA) Verapamil Hydrochloride injection USP, 5 mg/2 mL (2.5 mg/mL) and 10 mg/4 mL (2.5 mg/mL) single-dose vial, a generic therapeutic equivalent version of (RLD), Isoptin Injection, 2.5 mg/mL, of Mt. Adams Technologies LLC, the company said in a filing to the exchanges.
“We are pleased to receive another approval under Caplin Steriles name and we would be launching this product in the US soon. We’re also expecting a couple more approvals shortly, which should enhance our revenue traction in the US,” said CC Paarthipan, Chairman of Caplin Point Laboratories.
The stock price gained over 16 percent in the last 3 days and was quoting at Rs 232, up Rs 28.15, or 13.81 percent. It was trading with volumes of 7,193 shares, compared to its five day average of 8,675 shares, a decrease of -17.09 percent.
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