Granules India gains as its arm gets USFDA`s approval for Colchicine Capsules
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Granules India is currently trading at Rs. 426.25, up by 6.05 points or 1.44% from its previous closing of Rs. 420.20 on the BSE.
The scrip opened at Rs. 420.55 and has touched a high and low of Rs. 426.35 and Rs. 420.55 respectively. So far 7080 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 480.50 on 26-Feb-2024 and a 52 week low of Rs. 272.00 on 25-May-2023.
Last one week high and low of the scrip stood at Rs. 427.85 and Rs. 412.00 respectively. The current market cap of the company is Rs. 10314.00 crore.
The promoters holding in the company stood at 41.96%, while Institutions and Non-Institutions held 30.27% and 27.77% respectively.
Granules India’s wholly owned foreign subsidiary - Granules Pharmaceuticals, Inc (GPI) has received US Food & Drug Administration (USFDA) approval for its Abbreviated New Drug Application (ANDA) for Colchicine Capsules, 0.6 mg. It is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Mitigare Capsules, 0.6 mg of Hikma International Pharmaceuticals LLC (Hikma). Colchicine Capsules are indicated for prophylaxis of gout flares in adults.
Granules now have a total of 64 ANDA approvals from the USFDA (63 Final approvals and 1 tentative approvals). The current annual U.S. market for Colchicine Capsules is around $55 Million, according to MAT February 2024, 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).
