India's Marksans Pharma hits 7-1/2-yr high on US FDA nod for painkiller

Marksans Pharma

12/07/2023 07:21

** Shares of Marksans Pharma Ltd  MARK.NS  up as much as
10.2% at 103 rupees, their highest since January 2016
    ** Pharmaceuticals firm says received final approval from
U.S. Food and Drug Administration (FDA) for its abbreviated new
drug application (ANDA) for Acetaminophen and Ibuprofen tablets
    ** Acetaminophen and Ibuprofen tablets are over-the-counter
(OTC) bioequivalent of Advil Dual Action tablets 
    ** The new drug provide relief to pain-related symptoms by
combining the key ingredients - Ibuprofen and Acetaminophen
    ** Stock on track to rise for a second straight session, if
gains hold
    ** Over 10.9 mln shares change hands by 11:37 a.m. IST, 2.5x
the 30-day moving avg
    ** As of last close, stock up ~61% this year


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