Indoco Remedies share price climbs 2% on USFDA nod
Hyperuricemia can cause kidney disease and kidney stones as well.
December 31, 2019 / 12:48 PM IST
Shares of Indoco Remedies rallied 2.4 percent intraday on December 31 after the company received final approval for its drug that treats hyperuricemia.
"The US Food and Drug Administration approved company's ANDA for Febuxostat tablets 40 mg and 80 mg, which is therapeutically equivalent to the reference listed drug (RLD), viz., Uloric tablets of Takeda Pharmaceuticals USA, Inc," the Mumbai-based pharma company said in its BSE filing.
The market size of Febuxostat tablets in USA is over $500 million, it added.
Febuxostat is used for the treatment of gout caused by excessive levels of uric acid in the blood (hyperuricemia). Febuxostat prevents the production of uric acid by blocking the activity of the enzyme (xanthine oxidase) that converts purines to uric acid.
Uric acid forms crystals in joints and tissues, causing inflammation and pain. Hyperuricemia can cause kidney disease and kidney stones as well.
The stock rallied more than 30 percent in last three months amid lot of approvals from USFDA. It was quoting at Rs 196.50, up Rs 4.10, or 2.13 percent on the BSE at 1213 hours IST.