Shares of Bajaj Healthcare surged close to 4% soon after the company said it has received an major approval from the Drug Controller General of India (DCGI) to manufacture both the API as well as the drug formulation of Pimavanserin, a 34 mg capsule.
About Pimavanserin
Pimavanserin is an atypical antipsychotic used to treat hallucinations and delusions associated with Parkinson’s disease psychosis. The medication is marketed globally as Nuplazid, and has become a preferred treatment in the US antipsychotic segment.
"The growing success of Nuplazid in the US underscores the global demand for this innovative therapy," Anil Jain, Managing Director, Bajaj Healthcare said, calling the approval 'transformative'.
Bajaj Health has also extended the offer for Pimavanserin to several leading pharma companies to ensure availability in Indian market. The company said it has a 'strong manufacturing expertise' which it aims to leverage.
"...we aim to maximize this product’s success and deliver meaningful value to the Indian market," Anil Jain added.
API and formulations player Bajaj Healthcare has a market capitalization of over Rs 2,100 crore and the shares have more than doubled in the last one year.
Acadia Pharma, the maker of Nuplazid, had recently mentioned about a projected net sales of over $1 billion in 2025 from the medication, along with its one of its other brand Daybue.
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