Unichem Laboratories soars over 7 per cent on getting nod for antidepressant tablets

Unichem Laboratories Limited today announced that it has received ANDA approval for its Amitriptyline HCI tablets from United States Food & Drug Administration (USFDA) to market a generic version of ELAVIL (Amitriptyline Hydrochloride) of AstraZeneca Pharmaceuticals LP.   

Amitriptyline HCI tablets are used for the relief of symptoms of depression. The product will be manufactured in the company‘s Goa plant.   

Reacting to this, the company’s stock today increased by 9.06 per cent and made an intraday high of Rs 364.05 per share. The stock of the company has increased by 191 per cent from its decline in May 2020.   

Unichem Laboratories Ltd is a speciality pharmaceutical company. The company manufactures & markets pharmaceutical formulations branded as generics in several markets across the world. The company deals in product development, process chemistry, and manufacturing complex API as well as dosage forms.   

According to BSE data, the stock traded at a P/E multiple of 56.39 and a price-to-book ratio of 0.89. The stock has a 52-week high and a 52-week low of Rs 364.05 and Rs 121.60, respectively.      

At the time of market closing, the stock of the company was trading at Rs 358.60, up by 7.43 per cent on BSE.