Unichem Laboratories share price rose nearly 8 percent today after United States Food and Drug Administration's (US FDA) awarded approval for its Apremilast tablets. The stock has gained 6.9% in the last 4 days. The pharma share touched an intraday high of Rs 329.25, rising 7.74% on BSE.
Unichem Labs share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 131.55% in one year and risen 22.66% since the beginning of this year. Later, the small cap stock closed 4.94% or Rs 15.10 higher at Rs 320.70.
Market cap of the firm stood at Rs 2,257 crore on BSE. The stock touched a 52-week high of Rs 332.40 and a 52-week low of Rs 75.10 on 8 February 2021 and 24 March 2020, respectively.USFDA granted ANDA approval for Apremilast Tablets, 10 mg, 20 mg and 30 mg from the US FDA to market a generic version of Amgen's Otezla (apremilast) Tablets, 10 mg, 20 mg, and 30 mg.
Apremilast tablet is used for the treatment of adult patients with moderate to severe plaque psoriasis who are candidates for phototherapy or systemic therapy.
Yash Gupta Equity Research Associate at Angel Broking said, "Unichem Laboratories announced that the company has received ANDA approval for its Apremilast Tablets, 10 mg, 20 mg and 30 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Amgen's Otezla (apremilast) Tablets, 10 mg, 20 mg, and 30 mg. Apremilast tablets are indicated for the treatment of adult patients with moderate to severe plaque psoriasis who are candidates for phototherapy or systemic therapy. This is very good approval for Unichem, we have a positive outlook for the company."
Meanwhile, amid heavy selling in financial services, private banks and auto stocks, the S&P BSE Sensex ended 435 points lower at 50,889 and NSE Nifty 50 index fell 137 points to 14,981.