Ropivacaine Hydrochloride is a long acting local anesthetic drug used for surgery or acute pain management.
Shares of Caplin Point Laboratories gained 7.6 percent intraday on April 13 after its subsidiary received US health regulator's approval for an anesthetic drug.
The stock rallied nearly 62 percent in the last three weeks on value-buying and short covering in pharma space. It was trading at Rs 308.90, up Rs 18.85 or 6.50 percent on the BSE at 13:25 hours.
"Caplin Steriles, a subsidiary company, has been granted final approval from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Ropivacaine hydrochloride injection," the company said in its BSE filing.
Ropivacaine Hydrochloride is a long-acting local anaesthetic drug used for surgery or acute pain management.
Ropivacaine Hydrochloride injection USP had sales of about $34 million in the US in calender year 2019, the company said.
Caplin Steriles Limited has developed and filed 16 ANDAs along with partners; 8 have been approved so far.
"We would be launching this product shortly," CC Paarthipan, Chairman of Caplin said.Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now!
