JB Chemicals & Pharmaceuticals gains on getting USFDA`s nod for Venlafaxine Extended Release Tablets
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JB Chemicals & Pharmaceuticals is currently trading at Rs. 2025.55, up by 13.80 points or 0.69% from its previous closing of Rs. 2011.75 on the BSE.
The scrip opened at Rs. 2012.65 and has touched a high and low of Rs. 2026.70 and Rs. 2011.95 respectively. So far 251 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2149.90 on 21-Nov-2022 and a 52 week low of Rs. 1339.05 on 16-Jun-2022.
Last one week high and low of the scrip stood at Rs. 2080.00 and Rs. 2001.20 respectively. The current market cap of the company is Rs. 15644.50 crore.
The promoters holding in the company stood at 53.96%, while Institutions and Non-Institutions held 27.13% and 18.91% respectively.
JB Chemicals & Pharmaceuticals has received ANDA approval from the USFDA for Venlafaxine Extended Release Tablets 37.5mg, 75mg, 150mg and 225mg. This product is based on OROS (Osmotic Controlled Release Oral Delivery System) technology, an advanced and precision-controlled release mechanism. The generic product approval is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Venlafaxine Hydrochloride Extended-Release Tablets, 37.5 mg, 75 mg, 150 mg, and 225 mg, of Osmotica Pharmaceutical U.S. LLC.
As per IQVIA Health MAT October 2022 data, Venlafaxine Extended-Release tablets recorded annualized sales of approximately $48 million in the US.
JB Chemicals & Pharmaceuticals is engaged in manufacturing of pharmaceutical specialties in various dosage forms, herbal remedies, diagnostics, generic drugs, active pharmaceutical ingredients (APIs).
