Brooks Steriscience receives approval for Meropenem Injection from USFDA

Brooks Steriscience Limited, (BSL) subsidiary of Brooks Laboratories Limited has received approval for Meropenem Injection 500mg per vial and 1gram per vial (the product) from the United States Food & Drug Administration (USFDA). The product is generic equivalent to the Merrem® Injection of Pfizer Inc.

This approval from USFDA marks Brooks' foray into the US, which is the largest generic market in the World. Brooks manufactures its carbapenem range of injectables at its dedicated facility at Vadodara, India. The facility is approved by several regulatory agencies, including the European Union, and is equipped to produce a wide range of products meeting global quality standards.

Meropenem Injection is an intravenous beta-lactam antibiotic used to treat various bacterial infections. It is indicated for treating complicated skin and skin structure infections, intra-abdominal infections, and bacterial meningitis to reduce the development of drug-resistant bacteria and maintain the effectiveness of the injection and other antibacterial drugs.

According to I|QVIA, Meropenem has an estimated market size of US$ 78 million for the twelve months ending June 2022. In May 2022, BSL also received the marketing authorization for Meropenem injections in the United Kingdom and European Union. Global Penem market is US$ 2.6 billion as on June 2022 as per IQVIA.

Shares of Brooks Laboratories Limited was last trading in BSE at Rs. 95.30 as compared to the previous close of Rs. 90.80. The total number of shares traded during the day was 19061 in over 121 trades.

The stock hit an intraday high of Rs. 95.30 and intraday low of 90.10. The net turnover during the day was Rs. 1808850.00.

Source : Equity Bulls

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