JB Chemicals up 3% on USFDA nod for Atenolol tablets that treats high blood pressure
JB Chemicals & Pharmaceuticals shares gained 3 percent on receiving approval from the US health regulator for anti-hypertensive drug.
“The United States Food and Drug Administration (USFDA) has approved the company’s supplementary abbreviated new drug application (ANDA) for Atenolol tablets USP 25mg, 50mg and 100 mg,” the pharmaceuticals company said in its BSE filing.
The company, which plans to commercialise this product in the next quarter, said currently the market for approved product is about USD 70 million.
The company is focused on US business and this approval will help the company grow its exports, it said
The drug will be manufactured using company’s own bulk drug (API). The company had initiated this change as a part of its plan to gradually backward integrate US formulations business.
“Earlier the company could not commercialise this formulation due to problems associated with external API supplier. This approval will help company supply these formulations with its own API,” JB Chemicals said.
At 12:14 hours IST, the stock price was trading at Rs 300.65, up 0.75 percent on the BSE.