Hot Pursuit     11-Jan-24
Unichem Lab hit all time high on USFDA nod for hypertension drug
Unichem Laboratories jumped 4.59% to Rs 465.95 after the firm received ANDA approval for its Doxazosin tablets from the United States Food and Drug Administration (USFDA).
The approved abbreviated new drug application (ANDA) is a generic version of Cardura tablets from Viatris Specialty, LLC.

Doxazosin tablets are indicated for the treatment of hypertension, to lower blood pressure. The product will be commercialized from Unichem’s Goa Plant.

Unichem Laboratories is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in several markets across the world.

The pharmaceutical company’s consolidated net loss reduced to Rs 24.49 crore in Q2 FY24 as against net loss of Rs 70.67 crore recorded in Q2 FY23. Revenue from operations rose 26.4% YoY to Rs 415.63 crore in Q2 FY24.

The counter hit a life-time high at Rs 479.25 in today’s intraday session.

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