Granules India jumps on securing ANDA approval for Trazodone Tablets
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Granules India is currently trading at Rs. 662.90, up by 10.45 points or 1.60% from its previous closing of Rs. 652.45 on the BSE.
The scrip opened at Rs. 658.50 and has touched a high and low of Rs. 666.30 and Rs. 652.00 respectively. So far 24785 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 666.30 on 09-Aug-2024 and a 52 week low of Rs. 287.55 on 17-Aug-2023.
Last one week high and low of the scrip stood at Rs. 666.30 and Rs. 605.05 respectively. The current market cap of the company is Rs. 16123.58 crore.
The promoters holding in the company stood at 38.87%, while Institutions and Non-Institutions held 34.51% and 26.62% respectively.
Granules India has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Trazodone Hydrochloride Tablets USP, 50 mg, 100 mg, 150 mg, and 300 mg. It is bioequivalent and therapeutically equivalent to the reference listed drug, Desyrel Tablets, 50 mg, 100 mg, 150 mg, and 300 mg, of Pragma Pharmaceuticals, LLC.
Trazodone tablets are indicated for the treatment of major depressive disorder in adults. Granules now has 65 ANDA approvals from the USFDA (64 final approvals and 1 tentative approval). The current annual U.S. market for Trazodone tablets is approximately $128 million, according to MAT Jun 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).
