Indoco Remedies stock rose 5.53 per cent to Rs 358.60 a share on the BSE during Wednesday’s intraday trading. This happened after the firm announced that it had acquired final FDA clearance for its new drug application.
The Mumbai-based pharmaceutical gained approval from the top US authority to market Lofexidine Tablets 0.18 mg, a generic equivalent of Lucemyra Tablets 0.18 mg of the US-based drugmaker US WorldMeds.
In an exchange filing, the company shared, “Indoco has been granted a competitive generic therapy (CGT) designation by the USFDA and being the first approved generic, is eligible for 180 days of CGT exclusivity for Lofexidine Tablets, 0.18 mg in the USA.”
As of 2 pm, Indoco Remedies shares were trading 4.71% higher at Rs 351.55 on the NSE.
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