Jubilant Life hits 52-week high as it gets USFDA nod for generic anti-depressant

Shares of Jubilant Life Sciences rallied nearly 10 per cent in trade on Tuesday after the drug firm received final approval from the US health regulator for its generic version of anti-depressant Paxil tablets.

The stock ended 8.67 per cent higher after hitting an intraday high of Rs 452.40, up 9.75 per cent on the Bombay Stock Exchange (BSE).

The final approval for the abbreviated new drug application (ANDA) from the US Food and Drug Administration (USFDA) for Paroxetine tablets of Apotex is for strengths of 10 mg, 20 mg, 30 mg and 40 mg, the company said in a BSE filing.

As on September 30, 2015, Jubilant Life Sciences had a total of 820 filings for formulations, of which 391 have been approved in various regions globally.

These include 71 ANDAs filed in the US, of which 39 have been approved and 46 Dossier filings in Europe, it added.

Jubilant Life Sciences shares were trading 8.24 per cent up at Rs 446.15 per scrip during afternoon session on the BSE.