Caplin Point subsidiary gets USFDA approval for Milrinone Lactate injection
Caplin Point Laboratories Limited announced on Monday after the market hours that its subsidiary company, Caplin Steriles Limited, has been granted final approval from United States Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Milrinone Lactate injection.
Milrinone Lactate injection is a generic therapeutic equivalent version of (RLD), Primacor injection, 1 mg/ml, of Sanofi-Aventis US LLC. Milrinone lactate injection is used for short-term intravenous treatment of patients with acute decompensated heart failure.
Reacting to this, the company’s stock today increased by 5.88 per cent and made an intraday high of Rs 520.40 per share.
Caplin Point Laboratories is a pharmaceutical company, catering predominantly to the emerging markets of Latin America and Africa. The company’s subsidiary, Caplin Steriles Limited is a niche sterile product manufacturing company, which caters to the regulated markets for injectable and ophthalmic products.
According to BSE data, the stock traded at a P/E multiple of 21.26 and a price-to-book ratio of 5.42. The stock has a 52-week high and a 52-week low of Rs 686 and Rs 300.10, respectively.
At the time of market closing, the stock of the company was trading at Rs 503.50, up by 2.44 per cent on BSE.