India's Gland Pharma advances on getting US FDA nod for vitamin K drug

Gland Pharma

12/12/2024 04:04

** Shares of generic injectables maker Gland Pharma  GLAD.NS 
rise 2% to 1,810 rupees in early trade
    ** Stock among top gainers on Nifty Pharma index  .NIPHARM 
which is up 0.19%
** Co gets approval from U.S. FDA for phytonadione injectable
emulsion, which is used to treat coagulation disorders caused by
vitamin K deficiency or interference with vitamin K activity
    ** Co expects to launch the drug in the near future
    ** Avg rating on stock is a "hold," among 10 stocks on
pharma index with this rating; median PT is 1,800 rupees - LSEG
data
    ** Day's gains erase weekly loss, stock now up 2% this week
     

(Reporting by Ashna Teresa Britto in Bengaluru)
((AshnaTeresa.Britto@thomsonreuters.com))