Caplin Point jumps on USFDA approval for tranexamic acid inj
Caplin Point informed the bourses that its arm, Caplin Steriles Limited has received final approval from USFDA for its Abbreviated New Drug Application (ANDA) tranexamic acid injection USP, 1000mg/10ml.
Tranexamic acid injection is used to reduce bleeding in the surgeries like dental surgery and cervical surgery, heavy menstrual bleeding, nose bleeds and bleeding inside the eye.
As per IQVIA data, tranexamic acid had sales of around US$ 30 million for 12 months period ending March 2019 in US.
Caplin Steriles, has developed and filed 11 ANDAs out of which 5 are approved. The company is also working on a portfolio of 35 simple and complex injectable and ophthalmic products which would be filed in the next 4 years.
Caplin Point Laboratories is engaged in the manufacturing of a wide range of ointments, creams and other external application preparations in addition to the regular segments of pharmaceutical formulations.
Cheering this development, the stock of Caplin Point Laboratories jumped by nearly 4 per cent and made an intraday high of Rs. 429.80 per share on BSE. At 12:00 hours, the stock was trading at Rs. 426.15. The stock had hit its 52-week high of Rs. 535 on September 10, 2018 and its 52-week low of Rs. 304.75 on January 29, 2019 on BSE.