India's Gufic Biosciences hits over 1-yr high on China approval for API

Gufic Biosciences

19/06/2023 05:43

** Shares of active pharmaceutical ingredients (API) maker
Gufic Biosciences Ltd  GUFI.NS  up as much as 6.6% to 247
rupees, their highest since May 20, 2022
    ** Co on Friday said it received approval from National
Medical Products Administration (NMPA), China, for Prilocaine
API, an amide-type local anaesthetic 
    ** Co says approval will help in commercialisation of the
product in China and help explore Chinese market
    ** Over 654,000 shares change hands by 10:02 a.m. IST, 4.0x
the 30-day moving avg 
    ** As of last close, stock up 2.3% so far this year 


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))