Shilpa Medicare rises on getting marketing authorization for Betahistine Dihydrochloride Orodispersible Films
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Shilpa Medicare is currently trading at Rs. 374.05, up by 3.10 points or 0.84% from its previous closing of Rs. 370.95 on the BSE.
The scrip opened at Rs. 379.40 and has touched a high and low of Rs. 381.45 and Rs. 370.60 respectively. So far 26857 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 425.00 on 08-Sep-2022 and a 52 week low of Rs. 222.40 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 384.70 and Rs. 357.85 respectively. The current market cap of the company is Rs. 3246.82 crore.
The promoters holding in the company stood at 50.01%, while Institutions and Non-Institutions held 10.63% and 39.37% respectively.
Shilpa Medicare has received marketing authorization from MHRA, UK, for Betahistine Dihydrochloride Orodispersible Films, 24 mg. Shilpa is the first company to receive approval for the 24 mg strength as a Film formulation in UK. Shilpa’s approval is a hybrid product application, which is bioequivalent to the reference product. Betahistine is indicated for the treatment of vertigo, tinnitus, hearing loss and nausea associated with Meniere’s syndrome and is available as tablets and oral liquid dosage forms in various strengths across UK, Europe. The Orally dispersible/dissolvable film formulation offers benefits with respect to patient compliance and ease of administration.
This approval has come from the Company’s finished dosage form manufacturing facility, Shilpa Medicare, Unit VI, located at Dabaspet, Bengaluru, Karnataka. The facility is approved by MHRA UK and this is the first approval for a prescription Oral Film product in regulated market from this facility. The facility is involved in manufacturing, packaging, labelling and testing of finished dosage forms (oral dispersible/dissolving Films and Transdermal Patches).
Shilpa Medicare produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using sophisticated technology, meticulously following international specifications.
