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Sep 11, 2012, 08.20 AM IST | Source: PTI

Opto Circuits gets DCGI nod for heart device

Medical equipment maker Opto Circuits today said it has received approval from India's health regulator for a medical device for heart patients, following which it has launched the product in the market.

Medical equipment maker Opto Circuits today said it has received approval from India's health regulator for a medical device for heart patients, following which it has launched the product in the market.

Opto Eurocor Healthcare, a subsidiary of Opto Circuits (India), launched Sirolimus Drug Eluting Stent (DES), E-Magic Plus on receipt of Drug Controller General of India (DCGI) licence to sell and market the product in India, Opto Circuits said in a statement.

A stent is a wire metal mesh tube that is used to open a blocked artery during an angioplasty.

"E-Magic Plus has been developed indigenously in India and with the DCGI mark we can market and sell in India. The DCGI approval will also enable E-Magic Plus to be marketed in parts of Far East and parts of Middle East," Opto Circuits (India) Ltd Chairman & Managing Director Vinod Ramnani said.

Sirolimus DES market is estimated to be worth Rs 800 crore in India, he added.

The DES market has two major drug categories: Sirolimus and Paclitaxel. In India, Sirolimus-based angioplasty devices have a more than 90% market share, the company said. "Opto Eurocor Healthcare Ltd will launch E-Magic Plus in the European and Latin-American market after receiving the
necessary approvals," it added.

Shares of Opto Circuits today closed at Rs 129.60 on the BSE, down 0.96% from previous closing.

Opto Circuits stock price

On November 21, 2014, Opto Circuits India closed at Rs 22.45, down Rs 0.55, or 2.39 percent. The 52-week high of the share was Rs 44.50 and the 52-week low was Rs 18.00.


The company's trailing 12-month (TTM) EPS was at Rs 0.57 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 39.39. The latest book value of the company is Rs 61.75 per share. At current value, the price-to-book value of the company is 0.36.

READ MORE ON  Opto Circuits, Sirolimus, Paclitaxel,
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