Ranbaxy surges 8% on US FDA approval for Generic Lipitor

Today, the pharma major Ranbaxy has surged 8.2% to Rs 470.50 on US FDA (Food and Drug Administration) approval for Generic Lipitor. The drug will be manufactured by Ohm Laboratories, reports CNBC-TV18.

The company has allowed to make the tablets in 10, 20, 40 and 80 mg strengths. The company also got US FDA approval for Mohali plant. However, the company has declined to comment on US FDA approval.
The share touched an intraday high of Rs 483.95 and an intraday low of Rs 470. 
 
It was trading with volumes of 142,111 shares. In the previous trading session, the share closed down 3.88% or Rs 17.55 at Rs 434.80.