India's IOL Chemicals jumps on patent approval for hypertension drug

IOL Chemicals and Pharmaceuticals

24/11/2022 06:54

** Shares of Indian drugmaker IOL Chemicals and
Pharmaceuticals  IOLC.NS  rise as much as 7.8% to 356.8 rupees,
their sharpest intraday gain since Aug. 18
    ** Stock hits highest since Nov. 14; set to rise for second
straight session
    ** Co says it got patent approval for improved Sartan drug
preparation process 
    ** Sartan drugs are used to treat high blood pressure and
heart failure
    ** More than 529,066 shares change hands by 0628 GMT, 4.6x
30-day avg of 115,069 shares
    ** Stock down 31.5% YTD, up to last close
 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))