Granules India shares climb nearly 7% on USFDA nod for drug

New Delhi:Shares of drug firm Granules India Thursday soared nearly 7% after the company’s subsidiary received approval from the US health regulator for Methylergonovine tablets, used for prevention and control of postpartum haemorrhage.

The scrip advanced by 6.61% to end at Rs103.15 on BSE. Intra-day, it zoomed 10.18% to Rs106.60. On NSE, shares of the company surged 6.67% to close at Rs103.15.

On the equity volume front, 8.75 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.

In a filing to the BSE, Granules India said, “the US Food and Drug Administration (US FDA) has approved its 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 Ltd”.

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