Unichem Laboratories Limited receives ANDA approval from USFDA

Unichem Laboratories Limited has received ANDA approval for its Metformin Hydrochloride Extended-Release Tablets USP, 500 mg and 750 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Glucophage XR Tablets, 500 mg and 750 mg, of EMD Serono Inc.

Metformin Hydrochloride Extended-Release Tablets are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus. The product will be commercialized from Unichem's Goa Plant.

Shares of Unichem Laboratories Ltd., was last trading in BSE at Rs. 304.5 as compared to the previous close of Rs. 285.6. The total number of shares traded during the day was 15585 in over 1095 trades.

The stock hit an intraday high of Rs. 313.15 and intraday low of 279.05. The net turnover during the day was Rs. 4666615.

Source : Equity Bulls

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