The announcement was made during market hours today, 11 June 2015.

Meanwhile, the S&P BSE Sensex was down 86.86 points or 0.32% at 26,753.64.

The stock spurted on high volumes. On BSE, so far 1.11 lakh shares were traded in the counter as against average daily volume of 17,000 shares in the past two weeks.

The stock hit a low of Rs 958 so far during the day. The stock had hit a 52-week high of Rs 1,245 on 23 June 2014. The stock had hit a 52-week low of Rs 785.30 on 17 December 2014.

Forxiga belongs to a new class of Type 2 diabetes mellitus medication-a highly selective inhibitor of sodium-glucose cotransporter 2 (SGLT2). It has an unique insulin independent mode of action that helps remove excess glucose from the body via urine which is associated with reductions in glycated haemoglobin (HbA1c), weight and systolic blood pressure, AstraZeneca Pharma India said. Globally, Forxiga is the first medicine in the new SGLT2 inhibitor class to gain regulatory approval for the treatment of Type 2 diabetes mellitus, AstraZeneca Pharma India said in a statement.

AstraZeneca Pharma India reported net profit of Rs 38.13 crore in Q4 March 2015 compared with net loss of Rs 2.57 crore in Q4 March 2014. Net sales rose 5.8% to Rs 120.80 crore in Q4 March 2015 over Q4 March 2014.

In India, AstraZeneca has been successfully growing its presence in important therapeutic areas of diabetes, cardiovascular, infection, respiratory and oncology.