India's Lyka Labs up 6% on regulatory nod for product launch

Lyka Labs

10/10/2023 07:27

** Shares of drugmaker Lyka Labs  LYKA.NS  rise as much as
6.2% to 125.75 rupees
    ** Co receives product permission from India's drug
regulatory body to manufacture and market Tofacitinib Ointment
2% w/w
    ** Says, permission awarded after co completed clinical
trial on 125 patients across 8 clinical trial centres within
India
    ** Share price above 50-day, 100-day and 200-day simple
moving averages, suggesting bullish trend
    ** More than 248,000 shares change hands by 11:43 a.m. IST,
almost double the 30-day avg
    ** Including day's gains, stock down 4.4% YTD


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))