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Shilpa Medicare spurts on receiving USFDA’s final approval for Zoledronic Acid Injection

Shilpa Medicare is currently trading at Rs. 377.10, up by 2.05 points or 0.55% from its previous closing of Rs. 375.05 on the BSE.

The scrip opened at Rs. 372.50 and has touched a high and low of Rs. 382.25 and Rs. 371.00 respectively. So far 1161 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 546.95 on 14-Sep-2018 and a 52 week low of Rs. 328.05 on 02-Apr-2019.

Last one week high and low of the scrip stood at Rs. 387.45 and Rs. 360.30 respectively. The current market cap of the company is Rs. 3036.47 crore.

The promoters holding in the company stood at 53.80%, while Institutions and Non-Institutions held 26.57% and 19.63% respectively.

Shilpa Medicare has received US Food and Drug Administration’s (USFDA) final approval for its ANDA, Zoledronic Acid Injection, 4 mg/5 mL on May 15, 2019. Zoledronic Acid Injection, 4 mg/5 mL is a generic equivalent of reference listed drug (RLD) Zometa.

It is a bisphosphonate indicated for the treatment of Hypercalcemia of malignancy, Patients with multiple myeloma and patients with documented bone metastases from solid tumors, in conjunction with standard antineoplastic therapy as recommended in the label approved by USFDA.

According to IQVIA MAT Q1 2019 data, the US market for Zoledronic Acid Injection, 4 mg/5 mL is approximately $10.8 Million.

Shilpa Medicare produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using sophisticated technology, meticulously following international specifications.

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