Ajanta Pharma shines after USFDA nod

In total, Ajanta has 26 Abbreviated New Drug Application (ANDA) of which it has final approvals for 12 ANDAs; tentative approvals for 1 ANDA; and 13 ANDAs are under review with US FDA.

Ajanta Pharma Ltd is currently trading at Rs. 1757.25, up by Rs. 31.65 or 1.83% from its previous closing of Rs. 1725.6 on the BSE.

Ajanta Pharma Limited announces the receipt of final approval for Omeprazole and Sodium Bicarbonate Powder for Oral Suspension from US FDA. It is a bioequivalent generic version of Zegerid1 Powder for Oral Suspension and the company will be launching the product soon in 2 strengths 20 mg / 1680 mg & 40 mg / 1680
mg Powder Sachets.

This new approval is part of an ever growing portfolio of products that Ajanta has developed for the US market. In total, Ajanta has 26 Abbreviated New Drug Application (ANDA) of which it has final approvals for 12 ANDAs; tentative approvals for 1 ANDA; and 13 ANDAs are under review with US FDA. 

The scrip opened at Rs. 1725 and has touched a high and low of Rs. 1776.75 and Rs. 1720.1 respectively. So far 131356(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 15186.14 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1745 on 26-Jul-2016 and a 52 week low of Rs. 1103 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 1745 and Rs. 1601.7 respectively.

The promoters holding in the company stood at 73.78 % while Institutions and Non-Institutions held 12.06 % and 14.16 % respectively.

The stock is currently trading above its 50 DMA.