Concord Biotech soars on getting USFDA nod for Mycophenolate Mofetil for Oral Suspension
Concord Biotech is currently trading at Rs. 1231.00, up by 64.20 points or 5.50% from its previous closing of Rs. 1166.80 on the BSE.
The scrip opened at Rs. 1235.00 and has touched a high and low of Rs. 1264.45 and Rs. 1194.00 respectively. So far 126043 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2149.90 on 11-Jun-2025 and a 52 week low of Rs. 987.05 on 02-Apr-2026.
Last one week high and low of the scrip stood at Rs. 1,264.45 and Rs. 1023.05 respectively. The current market cap of the company is Rs. 13014.26 crore.
The promoters holding in the company stood at 44.08%, while Institutions and Non-Institutions held 17.02% and 38.90% respectively.
Concord Biotech has received approval from the U.S. Food and Drug Administration (USFDA) for its ANDA for Mycophenolate Mofetil for Oral Suspension USP, 200 mg/mL. Mycophenolate mofetil is an antimetabolite immunosuppressant indicated for the prophylaxis of organ rejection in adult and pediatric recipients 3 months of age and older of allogeneic kidney, heart or liver transplants, in combination with other immunosuppressants.
According to market estimates, the U.S. market for Mycophenolate Mofetil is around $30 million. The approval positions the company to capitalize on these attractive market opportunities, enhance its product offerings, and support its long-term growth strategy across the U.S. and international markets.
