Caplin Point Laboratories rose 2.92% to Rs 522 after the company said its subsidiary received a final approval from the US drug regulator for its Abbreviated New Drug Application, neostigmine methylsulfate injection.
Caplin Steriles (Caplin), a subsidiary of Caplin Point Laboratories, has been granted final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) neostigmine methylsulfate injection USP. The product is a generic therapeutic equivalent version of (RLD), Bloxiverz Injection, of Exela Pharma Sciences, LLC, USA.Neostigmine methylsulfate injection is a cholinesterase inhibitor and is indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents (NMBAs) after surgery.
According to IQVIA (IMS Health), neostigmine methylsulfate injection had US sales data of approximately $20 million for the 12-month period ending December 2020.
Caplin Point Laboratories reported 12.3% increase in consolidated net profit to Rs 66.14 crore on 20.2% increase in net sales to Rs 274.39 crore in Q3 FY21 over Q3 FY20.
Caplin Point Laboratories is a pharmaceutical company. It holds over 2,800 product licenses across the globe, with a dominant position in Latin America. The company is entering into Regulated markets of US, EU, Brazil, Mexico, Australia, with a state-of-the-art manufacturing facility for injectables, already approved by EU-GMP, ANVISA and USFDA.
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