Ranbaxy Laboratories strengthens on getting US FDA’s approval for Fenofibrate Capsules

05 Nov 2014 Evaluate

Ranbaxy Laboratories is currently trading at Rs 653.25, up by 12.10 points or 1.89% from its previous closing of Rs. 641.15 on the BSE.

The scrip opened at Rs. 642.00 and has touched a high and low of Rs. 663.50 and Rs. 642.00 respectively. So far 184316 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 667.30 on 03-Sep-2014 and a 52 week low of Rs. 306.05 on 27-Jan-2014.

Last one week high and low of the scrip stood at Rs. 644.10 and Rs. 600.00 respectively. The current market cap of the company is Rs. 27835.00 crore.

The promoters holding in the company stood at 63.37% while Institutions and Non-Institutions held 21.49% and 13.73% respectively.

Ranbaxy Laboratories has received approval from the U.S. Food and Drug Administration (US FDA) to manufacture and market Fenofibrate Capsules USP, 43 mg and 130 mg. The Office of Generic Drugs, U.S. Food and Drug Administration, has determined the Ranbaxy formulations to be bioequivalent and have the same therapeutic effect as that of the reference listed drug Antara Capsules, 43 and 130 mg, respectively, of Lupin Atlantis (Lupin).

Total annual market sales for Fenofibrate Capsules USP, 43 mg and 130 mg were $56 million in September 2014. Fenofibrate Capsules are indicated for Primary Hypercholesterolemia and Mixed Dyslipidemia. In addition, it is indicated for Severe Hypertriglyceridemia.

Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.

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