Jubilant Life shares soar nearly 12%

By: | Published: January 7, 2015 6:30 PM

Shares of Jubilant Life Sciences surged nearly 12 per cent today after the company received final approval...

Shares of Jubilant Life Sciences surged nearly 12 per cent today after the company received final approval from the US health regulator for generic anti-hypertensive Valsartan tablets.

Jubilant Life’s stock soared 10.36 per cent to settle at Rs 159.85 on the BSE. In intra-day session, it advanced by 12.77 per cent to Rs 163.35.

On the NSE, it zoomed 11.84 per cent to Rs 161.50 at the end of the trade.

On the volume front, 9.66 lakh shares of the company changed hands at the BSE, while more than 44 lakh shares were traded on the NSE during the day.

The stock has gained nearly 4 per cent in the previous session after received final approvals from the US health regulator for sale of generic anti-hypertensive Valsartan tablets in the American market.

Meanwhile, the company has received final approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application for Valsartan tablets USP in the strengths of 40 mg, 80 mg, 160 mg and 320 mg, Jubilant Life Sciences had said in a filing to BSE yesterday.

“We expect to launch this product immediately,” it added.

The product is generic version of Diovan tablets of pharma major Novartis and is used as an anti-hypertensive, Jubilant Life Sciences had said.

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