Indoco Remedies Ltd. has received the final approval for its Abbreviated New Drug Application (ANDA) for Rasagiline 0.5 mg and 1 mg tablets from the United States Food & Drug Administration (USFDA). Rasagiline is used for treatment of Parkinson's disease. The market size of this product in the US as per IMS 2018 data is US$ 105 million.
Commenting on this encouraging development, Ms. Aditi Kare Panandikar, Managing Director - Indoco Remedies Ltd., said, "This is the first ANDA approval for Indoco after receipt of warning letter in March 2017 for Goa plant II and III. The Company has 32 ANDAs pending for approval for different dosage forms from this site."
Shares of INDOCO REMEDIES LTD. was last trading in BSE at Rs.140.4 as compared to the previous close of Rs. 142.3. The total number of shares traded during the day was 1667 in over 49 trades.
The stock hit an intraday high of Rs. 148 and intraday low of 139.1. The net turnover during the day was Rs. 234888.