iStockNew Delhi: Shares of Gufic Biosciences rallied more than 14 per cent in early on Tuesday after the company received permission to manufacture and sell a drug formulation.
The pharmaceutical firm received permission from Central Licensing Approving Authority, Central Drugs Standard Control Organisation (CDSCO), Ministry of Health and Family Welfare for the manufacture, sale and distribution of Isavuconazonium Sulfate API and finished formulation Isavuconazole for Injection 200 mg/vial.
"Isavuconazole is indicated for the treatment of Invasive Aspergillosis and Invasive Mucormycosis," the company said in its release. Isavuconazole is a systemic antifungal drug of triazole class. The drug is used for the treatment of Invasive Aspergillosis and Invasive Mucormycosis.
Following the update, shares of Gufic Biosciences rallied more than 14 per cent to Rs 283.50, its new 52-week high, before cooling down to Rs 274.35 at 9.45 am. The scrip had settled at Rs 247.85 on Monday.
BSE Sensex was trading at 58,600.68, 363.89 points or 0.62 per cent lower at the same time.
Mumbai based Gufic is engaged in the research and development, manufacturing, marketing, distribution and sale of pharmaceutical and allied products.
The pharmaceutical firm received permission from Central Licensing Approving Authority, Central Drugs Standard Control Organisation (CDSCO), Ministry of Health and Family Welfare for the manufacture, sale and distribution of Isavuconazonium Sulfate API and finished formulation Isavuconazole for Injection 200 mg/vial.
"Isavuconazole is indicated for the treatment of Invasive Aspergillosis and Invasive Mucormycosis," the company said in its release. Isavuconazole is a systemic antifungal drug of triazole class. The drug is used for the treatment of Invasive Aspergillosis and Invasive Mucormycosis.
Following the update, shares of Gufic Biosciences rallied more than 14 per cent to Rs 283.50, its new 52-week high, before cooling down to Rs 274.35 at 9.45 am. The scrip had settled at Rs 247.85 on Monday.
BSE Sensex was trading at 58,600.68, 363.89 points or 0.62 per cent lower at the same time.
Mumbai based Gufic is engaged in the research and development, manufacturing, marketing, distribution and sale of pharmaceutical and allied products.
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