Granules India rises 2% on USFDA approval for Methylergonovine tablets

Shares of Granules India rose 2.3 percent in the early trade on Thursday as company received USFDA approval for Methylergonovine tablets.

The USFDA has approved companys abbreviated new drug applications (ANDA) for Methylergonovine 0.2 mg tablets.

The ANDA was filed by Granules Pharmaceuticals Inc., a wholly owned subsidiary of Granules India. The approved ANDA is the bioequivalent to the reference listed drug product, Methergine 0.2 MG.

Methylergonovine is a semi-synthetic ergot alkaloid used for the prevention and control of postpartum haemorrhage.

Krishna Prasad Chigurupati, Chairman and Managing Director, Granules India, “Granules Pharmaceuticals Inc., our R&D and manufacturing subsidiary in Virginia was established with an objective to foray into the development and manufacture of products that are niche, on several levels. Our first product approval from this site is a first generic, to the market and is a testimony to our objectives and execution capabilities.”

At 09:18 hrs Granules India was quoting at Rs 99.05, up Rs 2.30, or 2.38 percent on the BSE.

Posted by Rakesh Patil