Marksans Pharma shares jump 12% on USFDA clearance for allergy drug

Shares of Marksans Pharma surged over 12 per cent, bucking the negative market trend, after the pharma company received approval from the US health regulator for loratadine liquid filled capsules, used for treatment of allergies, in the American market.

Reacting to the development, the stock rose as much as 12.53 per cent on the BSE.

In a BSE filing today, Marksans Pharma said, "USFDA has granted approval for an abbreviated new drug application (ANDA) for loratadine liquid filled capsules 10 mg."

Loratadine liquid-filled capsules are therapeutically equivalent to the reference listed drug Claritin Liqui-Gels Capsules 10 mg of Bayer Healthcare LLC.

Loratadine is an anti-histamine that reduces that effect of natural chemical histamine in the body. Loratadine is used to treat sneezing, runny nose, watery eyes, hives, skin rash, itching and other allergy symptoms.