Laurus Labs soars on getting EIR from USFDA for API Units 1& 3 at Visakhapatnam

05 Sep 2019

Laurus Labs is currently trading at Rs. 331.95, up by 5.45 points or 1.67% from its previous closing of Rs. 326.50 on the BSE.

The scrip opened at Rs. 328.50 and has touched a high and low of Rs. 337.00 and Rs. 328.05 respectively. So far 1866 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 448.00 on 10-Sep-2018 and a 52 week low of Rs. 298.00 on 07-Aug-2019.

Last one week high and low of the scrip stood at Rs. 337.00 and Rs. 324.00 respectively. The current market cap of the company is Rs. 3551.26 crore.

The promoters holding in the company stood at 32.82%, while Institutions and Non-Institutions held 44.56% and 22.62% respectively.

Laurus Labs has received the Establishment Inspection Report (EIR) from US Food and Drug Administration (USFDA) for its API Units 1& 3, located at Parawada, Visakhapatnam, for the inspection conducted in June 2019.

In FDF segment, the company also received Global Fund (GF) ERP (Expert Review Panel) approval for FDC (Fixed Dose Combination) TLE 400 (Tenofovir/Lamivudine/Efavirenz 300/300/400mg) for supply in GF funded projects. The company is one among the three companies to receive the approval for this product in ART (Anti Retro Viral Therapy).

This approval enables company to participate directly in GF and also In-Country tenders based on GF funding across Sub-Saharan African region along with our other ARV portfolio comprising of TLD (Tenofovir/Lamivudine/Dolutegravir 300/300/50mg), DTG (Dolutegravir 50mg) and ET (Emtricitabine/Tenofovir 200/300mg). TLE 400 is the alternative first line regimen for treatment of HIV/AIDS as per the WHO guidelines issued in July 2019.

Laurus Labs is a leading research and development driven pharmaceutical company in India. The company has grown consistently to become one of the leading manufacturers of APIs for anti-retroviral (ARV) and Hepatitis C. It also manufactures APIs in oncology and other therapeutic areas.

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335.30 -4.50 (-1.32%) Dec 09, 18:01
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