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AstraZeneca Pharma share price rallied 4.5 percent intraday Wednesday after receiving permission from the Indian drug controller to market diabetes drug.
The drug firm has received marketing authorisation from the Drug Controller General of India (DCGI) for Xigduo XR tablets used in the treatment of adults with type 2 diabetes in India.
The drug is indicated as an adjunct therapy to diet and exercise to improve glycemic control in adults with type 2 diabetes, AstraZeneca said in its filing.
Xigduo XR is a product of the AstraZeneca Group, has been approved in 61 countries, including the US, EU and Japan, and continues to demonstrate an overall favourable benefit risk profile for the treatment of patients with type 2 diabetes, it added.
"Xigduo XR will provide physicians and patients with an advanced treatment option that provides better glycemic control, potential weight loss and the reduced risk of hypoglycemia," AstraZeneca India Medical Affairs & Regulatory Head Anilda Dsouza said.
With these tablets the company is able to offer physicians a personalised and effective treatment option to manage the type 2 diabetes, he added.
The product is approved with multiple dosage strengths of dapagliflozin and metformin hydrochloride extended-release, respectively, including 5 mg/500 mg, 5 mg/1,000 mg, 10 mg/500 mg, and 10 mg/1,000 mg, AstraZeneca said.
At 11:48 hours IST, the stock price was quoting at Rs 971.00, up Rs 24.00, or 2.53 percent on the BSE.
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