Caplin Point falls despite getting USFDA approval for Argatroban injection

The subsidiary company of Caplin Point Laboratories Ltd namely, Caplin Steriles Limited informed that it has received final approval from United States Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Argatroban injection, 50 mg/50 ml (1 mg/ml) single-dose vial presentation. 

The injection is a generic equivalent of Argatroban injection of Hikma Pharmaceuticals Limited. It is used as an anticoagulant for prophylaxis or the treatment of thrombosis in patients with heparin-induced thrombocytopenia. 

Reacting to this, the stock of the company today increased by 1.07 per cent and made an intraday high of Rs 490.95 per share. 

The company reported a net profit of Rs 62.83 crore in Q2FY21, an increase of 9.71 per cent. It had reported a profit of Rs 57.27 crore in Q2FY20. The company reported net sales of Rs 268.12 crore for Q2FY21, an increase of 18.01 per cent as against the net sales of Rs 227.20 crore for Q2FY20. 

Caplin Point Laboratories Limited caters predominantly to the emerging markets of Latin America and Africa. Caplin Point deals in the complete range of finished dosage forms while Caplin Steriles Ltd caters to the regulated markets for injectable & ophthalmic products. 

According to BSE data, the stock traded at a P/E multiple of 20.30 and a price-to-book ratio of 5.36. The stock has a 52-week high and a 52-week low of Rs 686 and Rs 180, respectively. 

At the time of market closing on Friday, the company's stock was trading at Rs 478.60, down by 1.47 per cent on BSE. Besides, at 10.36 am on Monday, the stock of Caplin Point Laboratories Ltd is trading at Rs 480.85, up by 0.26 per cent on BSE.