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Marksans Pharma shines on receiving USFDA approval for Metformin Hydrochloride ER Tablets

Marksans Pharma Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 524404 | NSE: MARKSANS

02 May 2016 Evaluate

Marksans Pharma is currently trading at Rs. 49.00, up by 3.25 points or 7.10% from its previous closing of Rs. 45.75 on the BSE.

The scrip opened at Rs. 45.85 and has touched a high and low of Rs. 51.30 and Rs. 45.20 respectively. So far 1562594 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 115.00 on 10-Aug-2015 and a 52 week low of Rs. 33.45 on 01-Mar-2016.

Last one week high and low of the scrip stood at Rs. 50.30 and Rs. 45.20 respectively. The current market cap of the company is Rs. 1974.94 crore.

The promoters holding in the company stood at 48.25% while Institutions and Non-Institutions held 13.08% and 38.67% respectively.

Marksans Pharma has been granted approval by US Food and Drug Administration (USFDA) for an Abbreviated New Drug Application (ANDA) for Metformin Hydrochloride Extended- Release (ER) Tablets USP 500 mg and 750 mg. Metformin Hydrochloride ER Tablets USP 500mg and 750mg is therapeutically equivalent to the reference listed drug Glucophage XR Extended-release Tablets 500mg and 750mg respectively of Bristol Myers Squibb (BMS).

Metformin Hydrochloride ER Tablets are oral anti-hyperglycemic drugs indicated as an adjunct to diet and exercise to improve glycemic control in patients with type-2 diabetes. The annual sale of the product is approximately $230 millions.

This product approval endorses the capability of Marksans to develop and deliver products on a high barrier platform technology of extended release tablets. Extended release is an advanced technology and is a solution to patient compliance to avoid repeated dosages at short intervals.

Marksans Pharma Share Price

179.55 -0.95 (-0.53%)

17-Apr-2026 16:59 View Price Chart

Peers

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Sun Pharma Inds.	1675.20
Dr. Reddys Lab	1235.40
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Lupin	2324.25
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Marksans Pharma shines on receiving USFDA approval for Metformin Hydrochloride ER Tablets

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