Caplin Point Laboratories share price gained 4 percent on April 22 after a subsidiary of the company received the nod from the United States Food and Drug Administration (US FDA) for Neostigmine Methylsulfate Injection.
"Caplin Steriles, a subsidiary company of Caplin Point Laboratories, has been granted final approval from the US FDA for its Abbreviated New Drug Application (ANDA) Neostigmine Methylsulfate Injection USP, 5 mg/10 mL (0.5 mg/mL) and 10 mg/10 mL (1 mg/mL), Multiple-Dose vial presentations," company said in a statement to the exchanges.
Neostigmine Methylsulfate Injection is a generic therapeutic equivalent version of (RLD), BLOXIVERZ Injection, of Exela Pharma Sciences, LLC, USA.
Neostigmine Methylsulfate Injection is a cholinesterase inhibitor and is used for the reversal of the effects of non-depolarizing neuromuscular blocking agents (NMBAs) after surgery.
"According to IQVIATM (IMS Health), Neostigmine Methylsulfate Injection had US sales data of approximately USD 20 million for the 12-month period ending Dec 2020," the company added.
Recently, the said subsidiary was granted final approval from US FDA for ANDA Milrinone Lactate Injection USP, 10 mg/10 mL (1 mg/mL), 20 mg/20 mL (1 mg/mL), 50 mg/50 mL (1 mg/mL), Single-dose vial presentation.
At 09:46 hrs, Caplin Point Laboratories was quoting at Rs 523.15, up Rs 15.95, or 3.14 percent on the BSE.
The share touched a 52-week high of Rs 686 and a 52-week low of Rs 300.10 on 07 August 2020 and 22 April 2020, respectively.
Currently, it is trading 23.74 percent below its 52-week high and 74.33 percent above its 52-week low.