Unichem gains on receiving approval for asthma drug

Indian pharmaceutical company Unichem has received final ANDA approval from USFDA for asthma drug, Montelukast Chewable Tablets, 4 mg and 5 mg.

The share price of the company has gone up by 5 per cent on getting final Abbreviated New Drug Application (ANDA) approval for its Montelukast Chewable tables, 4mg and 5mg from the United States Food and Drug Administration (USFDA) to market the generic version of Merck Sharp & Dohme Corporation’s Singulair Tablets. The new product will be commercialized from its Goa plant.

On Wednesday, the stock reached an intraday high of Rs. 249 per share and an intraday low of Rs. 240 per share. The share recorded 52-week high at Rs. 382 and 52-week low at Rs. 230 per share on the BSE. The company's share closed at Rs. 241.60, up by 2.26 per cent, while BSE Sensex closed at 35,645.40 up by 0.75 per cent and the Nifty50 closed at 10,769.90 level, up by 0.65 per cent.