Moneycontrol Bureau
Jubilant Life Sciences shares touched a record high of Rs 676.10, up 10 percent intraday Monday after approval from the US health regulator for Ruby-Fill.
"Wholly own subsidiary Jubilant Pharma, through one of its units Jubilant DraxImage Inc, Montreal Canada, has received US Food and Drug Administration approval for Ruby-Fill, for its new drug application (NDA)," the Noida-based healthcare company said in its filing.
This approved new drug application provides for the use of Ruby-Fill for positron emission tomography (PET) imaging of the myocardium under rest or pharmacologic stress conditions to evaluate regional myocardial perfusion in adult patients with suspected or existing coronary artery disease.
The company said this product is expected to be launched in the current quarter (Q3FY17) under its registered brand name Ruby-Fill.
The current estimated US market size for this drug is USD 76 million and has a potential to grow up to USD 250 million annually in the next five years.
"This approval is highly anticipated by the medical community and is expected to give further boost to the revenues and profitability of the company along with the robust existing product base," Shyam S Bhartia, chairman and Hari S Bhartia, co-chairman and managing director said.
At 11:20 hours IST, the scrip of Jubilant Life Sciences was quoting at Rs 656.75, up Rs 42.10, or 6.85 percent on the BSE.Posted by Sunil Shankar Matkar
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