Jubilant Life Sciences advances after getting ANDA approval for Levetiracetam

0
72

Jubilant Jubilant Life Sciences rose 4.04% to Rs 367.20 at 10:38 on after the company announced that it has received ANDA final approval for Levetiracetam Injection USP.

The announcement was made after market hours on Friday, 3 June 2016.

Meanwhile, the S&P BSE Sensex was down 5.69 points or 0.02% at 26,837.34

On BSE, so far 53,360 shares were traded in the counter as against average daily volume of 1.53 lakh shares in the past one quarter. The stock hit a high of Rs 374 and a low of Rs 366.25 so far during the day. The stock had hit a record high of Rs 455 on 7 December 2015. The stock had hit a 52-week low of Rs 163.35 on 29 June 2015. The stock had underperformed the market over the past one month till 3 June 2016, falling 9.42% compared with Sensex’s 6.39% rise. The scrip had also underperformed the market in past one quarter, declining 4.71% as against Sensex’s 9.09% rise.

The mid-cap company has equity capital of Rs 15.93 crore. Face value per share is Re 1.

Jubilant Life Sciences announced that the company has received Abbreviated New Drug Application (ANDA) final approval for Levetiracetam Injection USP, 500 mg/5 mL (100 mg/mL), the generic version of Keppra Injection 500mg/5mL (100mg/mL) of UCB, which is used for the treatment of epilepsy. As on 31 March 2016, Jubilant Life Sciences had a total of 739 filings for formulations of which 517 have been approved in various regions globally. This includes 72 ANDAs filed in the US, of which 44 have been approved and 46 Dossier filings in Europe.

Jubilant Life Sciences’ consolidated net profit rose 65.4% to Rs 70.68 crore on 2.8% fall in net sales to Rs 1480.29 crore in Q4 March 2016 over Q4 March 2015.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in manufacture and supply of APIs, solid dosage formulations, specialty pharmaceuticals and life science ingredients. It also provides services in contract manufacturing and drug discovery solutions.