Marksans Pharma Ltd stocks surged over 10 per cent on Monday after the company informed the bourses that it has received US Food and Drug Administration (USFDA) approval for allergy drug – Loratadine Liquid Filled Capsules 10 mg. Share price of the company cheered the news and was trading 7.94 per cent up at Rs 51.65 at 10.42 am. The scrip opened at Rs 47.60 and touched a high and low of Rs 52.30 and Rs 47.45, respectively. Later, the scrip ended 10.76 per cent up at Rs 53 on BSE. On NSE, the share price of the company ended 10.27 per cent up at Rs 52.60.
In a BSE filin the company said, ” Marksans Pharma Ltd hereby announces that USFDA has granted approval for an abbrevaited New Drug Application (ANDA) for Loratadine Liquid Filled Capsules 10 mg.”
The BSE group ‘A’ stock of face value Rs 1 has touched a 52-week-high of Rs 113.80 on Dec 28, 2015 and a 52-week-low of Rs 33.45 on Mar 1, 2016.
The promoters holding in the company stood at 48.25 per cent, while institutions and non-institutions held 13.77 per cent and 37.98 per cent, respectively.
Loratadine Liquid Filled Capsules 10 mg is therapeutically equivalent to the reference listed drug Claritin Liqui-Gels Capsules 10 mg of Bayer Healthcare LLC. Loratadine is an antihistamine that reduces the effects of naturqal chemical histamine in the body. It is used to treat sneezing, runny nose, watery eyes, hives, skin rash, itching and other allergy symptoms.
Marksans Pharma is engaged in production of prescription drugs, caters in areas like oncology, gastroenterology, antidiabetic, cardiovascular, pain management, gynaecology and others.