Granules India share price rises over 5% on USFDA nod to Trospium Chloride capsules
BusinessToday.In April 24, 2020
Granules India share price closed higher today after the firm received approval of a drug from the US drug regulator for treatment of overactive bladder. Share price of Granules India rose up to 5.83% to Rs 169.85 compared to the previous close of Rs 160.50 on BSE.
It closed 4.24% higher at Rs 167.30 on BSE. Granules India share is trading higher than its 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The small cap stock has gained 36% since the beginning of this year and risen 44.72% during the last one year.
The stock has risen 39% during the last one month.
Granules India stock stands higher than its 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The US Food & Drug Administration (US FDA) cleared the abbreviated new drug application (ANDA) filed by Granules Pharmaceuticals, Inc (GPI), a wholly owned foreign subsidiary of Granules India for Trospium Chloride Extended-Release Capsules, 60 mg, as per company release.
It is bioequivalent to the reference listed drug product (RLD), Sanctura XR Capsules, 60 mg, of Allergan, Inc.
Trospium Chloride Extended-Release Capsules are a muscarinic antagonist indicated for the treatment of overactive bladder (OAB) with symptoms of urge urinary incontinence, urgency, and urinary frequency.
"We are pleased to announce approval of this niche, limited competition product, which is a nice addition to our growing product portfolio in the US market," said Priyanka Chigurupati, Executive Director, Granules Pharmaceuticals, Inc.
By Aseem Thapliyal