Gland Pharma shares up nearly 2% on USFDA approval for Eribulin Mesylate injection

Gland Pharma shares rose nearly 2 percent in early trade on April 8 after the company received USFDA approval for Eribulin Mesylate injection.

At 09:37am, Gland Pharma was quoting at Rs 1,784.25, up Rs 29.10, or 1.66 percent, on the BSE.

".... has received approval from the United States Food and Drug Administration (USFDA) for Eribulin Mesylate Injection, 0.5 mg/mL Single Dose Vial (Product)," the company said in its release.

The product is expected to be the first generic approval on the market, and the company expects to launch it in the near term through its marketing partner.

The company is co-developing several complex injectables, including this product, with Orbicular Pharmaceutical Technologies Private Limited.

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The share touched a 52-week high of Rs 2,195.75 and a 52-week low of Rs 861.50 on February 7, 2024 and May 22, 2023, respectively.

Currently, the stock is trading 18.74 percent below its 52-week high and 107.11 percent above its 52-week low.

The share price gained 70 percent in the last 9 months.