India's Shilpa Medicare rises after unit submits drug master file to USFDA

Shilpa Medicare

05/06/2024 09:30

** Shares of Shilpa Medicare Ltd  SHME.NS  rise as much as
8% to 486.75 rupees
    ** Stock on track to snap two days of losses
    ** Pharmaceutical co says, unit filed its first drug master
file of recombinant human albumin 20% with U.S. Food and Drug
Administration
    ** Drug Master File is used to provide detailed information
about a drug's manufacturing, packaging and storing
    ** Blood volume loss is treated with recombinant human
albumin 20%
    ** Stock trading above its 200-day simple moving avg since
Jan. 31
    ** More than 280,000 shares traded as of 1:42 p.m. IST,
lower than their 30-day moving avg of 311,247 shares
    ** SHME last up 7.9%, adding to YTD gains of ~47.2%

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))