Lincoln Pharmaceuticals shares surged over 5 per cent on Friday after the company unveiled an Ondansetron oral spray, used for treatment of nausea and vomiting caused by surgery or cancer drugs, in the Indian market. The company has done bio-equivalent study for Ondansetron oral spray and has got the Drug Controller General of India (DCGI) permission. Ondansetron was earlier available as tablet, syrup and injectable in India. All India level the Anti-emetic drug market is Rs 678 crore and Ondansetron is one of the anti-emetic drug and all over India market is Rs 303 crore. Therefore, Ondansetron Spray is having very good market opportunity.
The share price of the company ended 5.13 per cent up at Rs 248.85. The scrip opened at Rs 238 and touched a high and low of Rs 251.60 and Rs 238, respectively. Sensex ended 104.91 points down at 28,668.22.
The BSE group ‘B’ stock of face value Rs. 10 has touched a 52-week -high of Rs 304.80 on Jan 6, 2016 and a 52-week-low of Rs 128 on May 26, 2016. The promoters holding in the company stood at 35.81 per cent, while institutions and non-institutions held 1.93 per cent and 62.26 per cent respectively.
In a BSE filing the company said, “Presently the Ondasetron formulation is available in the form of tablet, syrup and injectable. Lincoln Pharma has developed Ondasetron as Oral Spray as first time in India. The formulation is available in IS market only. ”
Lincoln Pharmaceuticals is a company is based at Ahmedabad and engaged in Manufacturing and Export of Pharmaceuticals formulations under various Therapeutic product group, plant duly complied with WHO-GMP guidelines. The Company is exporting more than 45 countries along with Domestic market in more than 20 states in India.