Claris Lifesciences is currently trading at Rs. 229.80, up by 9.50 points or 4.31% from its previous closing of Rs. 220.30 on the BSE.
The scrip opened at Rs. 219.90 and has touched a high and low of Rs. 232.00 and Rs. 214.60 respectively. So far 1,32,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 358.00 on 13-Apr-2015 and a 52 week low of Rs. 163.10 on 22-Oct-2014.
Last one week high and low of the scrip stood at Rs. 234.90 and Rs. 214.60 respectively. The current market cap of the company is Rs. 1,467.00 crore.
The promoters holding in the company stood at 60.99% while Institutions and Non-Institutions held 17.82% and 21.18% respectively.
Claris Lifesciences has received the Prior Approval Supplement (PAS) for Furosemide Injection in the United States of America (US). The company had received the original approval for this ANDA in January 2014 and was selling the products in the US in 2014. But, since January 2015, the company has been facing supply issues from its raw material supplier and has not been able to supply its product to the US.
The company had filed a PAS application to append an additional supplier to the ANDA, this process was done for redundancy and to ensure a consistent supply of the API for its finished formulation sold in the US. With this approval, alterative vendor has been appended to the ANDA this will allow the company to recommence its supplies to the US. The product had been facing supply issues in USA during the past year on various occasions and has also featured in the USFDA shortage list since June 2012.
Claris is also one of the few injectables companies in India to have its own front end in the US, the company markets its products through its wholly owned subsidiary Claris Lifesciences Inc. The company has 13 ANDAs approved in its name across 8 molecules. The company has a under registration pipeline of 24 ANDAs across 21 molecules having an estimated addressable market size of $2.2 billion.
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