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Claris Lifesciences trades jubilantly on receiving Letter from the US FDA

21 Aug 2012 Evaluate

Claris Lifesciences is currently trading at Rs. 227.95, up by 10.30 points or 4.73% from its previous closing of Rs. 217.65 on the BSE.

The scrip opened at Rs. 218.00 and has touched a high and low of Rs. 244.30 and Rs. 216.55 respectively. So far 783812 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 244.30 on 21-Aug-2012 and a 52 week low of Rs. 98.10 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs. 244.30 and Rs. 160.25 respectively. The current market cap of the company is Rs. 1448.66 crore.

The promoters holding in the company stood at 67.28% while Institutions and Non-Institutions held 21.16% and 11.57% respectively.  

Claris Lifesciences has received the letter from the Food and Drug Administration of United States of America (USFDA) stating it has completed the evaluation. The US FDA’s letter cited that it has completed evaluation of the company’s corrective action in response to the Warning Letter WL: 320-11-003, dated November 01, 2010. Based on their evaluation, the US FDA vide their letter dated August 14, 2012, confirmed that the violation(s) contained in the warning letter have been addressed.

The company had received 7 ANDAs approval across 4 products before the warning letter was issued, the company has filed for a total of 32 ANDAs across 21 products which includes niche products like profol and Iron Sucrose. The estimated market size of all products in the United States is about $1 billion.

The company has commercialized sales across 91 countries worldwide and has 1,228 product approvals out of which 207 are in the regulated market and has filed for 357 marketing authorizations under registration out of which 122 are in the regulated market.

Peers
Company Name CMP
Redington 225.60
Adani Enterprises 2254.55
Amrapali Industries 17.30
Rashi Peripheral 472.90
PDS 289.80
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