Shares of Orchid Chemicals and Pharmaceuticals jumped around 15 per cent on Thursday after the announcement made by the company on June 17 (post market hours) that it has received nod from the US health regulator USFDA for generic anti-bacterial Gemifloxacin Mesylate tablets.
The company has received approval from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Gemifloxacin Mesylate tablets in the strength of 320 mg, Orchid Chemicals & Pharmaceuticals said in a filing to BSE.
The approval is with 180 days of generic drug exclusivity, it added.
Chennai based Orchid Chemicals & Pharmaceuticals is present in segments like anti-infective, anti-inflammatory, central nervous system (CNS), cardio vascular segment (CVS), nutraceuticals and other oral and sterile products.
Shares of Orchid Chemicals & Pharmaceutical closed 14.89 per cent higher at 56.70 apiece.
The BSE Sensex jumped over 1 per cent to 27,115.83.