Hot Pursuit     12-Jul-23
Marksans Pharma hits 52 week high on receiving USFDA nod for pain relief tablets
Marksans Pharma rallied 9.28% to Rs 102.08 after the company has received final approval from US Food and Drug Administration (USFDA) for its abbreviated new drug application for Acetaminophen and Ibuprofen Tablets.
The Acetaminophen and Ibuprofen tablets, 250 mg/125 mg (OTC) are bioequivalent to the reference listed drug (RLD), Advil Dual Action of GlaxoSmithKline Consumer Healthcare Holdings (US) LLC. Advil Dual Action was first available as an over-the-counter drug in 2020.

Acetaminophen and Ibuprofen Tablets, 250 mg/125 mg provides relief for multiple pain-related symptoms by combining two powerful ingredients indicated for OTC pain relief, ibuprofen and acetaminophen. Ibuprofen works through the body targeting pain at the source while Acetaminophen blocks pain signal to the brain.

The innovation takes these two powerful pain fighting ingredients and combines them into one tablet to offer fast, strong pain relief. The company plans to launch the product immediately.

Mark Saldanha, managing director of the company said, “We are committed to expanding our portfolio in aTe Pain Management, this approval further demonstrates our regulatory and manufacturing capabilities and our strength to follow a focused growth approach. We will continue to work diligently towards sustaining this momentum in the coming quarters.”

Marksans Pharma is primarily engaged in the business of research, manufacture, marketing and sale of pharmaceutical formulations.

The company's consolidated net profit zoomed 191.46% to Rs 81.93 crore in Q4 FY23 as against Rs 28.11 crore recorded in Q4 FY22. Revenue from operations rose 16.25% year on year to Rs 485.98 crore in the quarter ended 31 March 2023.

The scrip hits 52 week high at Rs 102.90 in intraday today.

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