Granules India jumps on getting USFDA`s approval for Metoprolol Succinate ER Tablets
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Granules India is currently trading at Rs. 284.45, up by 5.20 points or 1.86% from its previous closing of Rs. 279.25 on the BSE.
The scrip opened at Rs. 280.50 and has touched a high and low of Rs. 285.00 and Rs. 279.70 respectively. So far 18691 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 381.25 on 04-Nov-2022 and a 52 week low of Rs. 227.00 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 286.80 and Rs. 275.30 respectively. The current market cap of the company is Rs. 6831.66 crore.
The promoters holding in the company stood at 42.02%, while Institutions and Non-Institutions held 28.93% and 29.05% respectively.
Granules India has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Metoprolol Succinate Extended-Release Tablets USP, 25 mg, 50 mg, 100 mg and 200 mg. It is bioequivalent to the reference listed drug product (RLD), Toprol-XL Tablets, 25 mg, 50 mg, 100 mg and 200 mg, of Toprol Acquisition LLC.
Metoprolol Succinate ER Tablets are indicated for the treatment of hypertension in order to lower blood pressure. Granules now has a total of 57 ANDA approvals from USFDA (55 final approvals and 2 tentative approvals). The current annual U.S. market for Metoprolol Succinate ER Tablets is approximately $321 million, according to MAT March 2023, IQVIA/IMS Health.
Granules India is manufacturer and supplier of pharmaceutical products. Its products include active pharmaceutical ingredients (API) like tablets, caplets, rapid release, pharmaceutical, formulation intermediates (PFI) and Finished Dosages (FDs)
