Gland Pharma climbs nearly 2 per cent on getting USFDA nod for generic Foscarnet Sodium injection

Gland Pharma Limited announced after the market hours on Thursday that it has received approval from United States Food & Drug Administration (USFDA) for generic Foscarnet Sodium injection, 6,000 mg/250 ml (24 mg/ml) single-dose bag for infusion.  

Foscarnet Sodium injection is used for the treatment of cytomegalovirus (CMV) retinitis in patients with acquired immunodeficiency syndrome (AIDS).  

Reacting to this, the company’s stock today increased by 3.14 per cent and made an intraday high of Rs 2,741.35 per share. 

Besides, the company reported a net profit of Rs 204.11 crore in Q3FY21. It had reported a profit of Rs 154.10 crore in Q3FY20, which is an increase of 32.45 per cent. The company reported net sales of Rs 859.42 crore for Q3FY21, an increase of 33.05 per cent as against the net sales of Rs 645.94 crore for Q3FY20.   

Gland Pharma is a manufacturer of small volume liquid parenteral products. It is one of the largest and the fastest-growing injectable-focussed companies, with a global footprint across 60 countries.  

At 12.44 pm today, the stock of the company was trading at Rs 2,696, up by 1.43 per cent on BSE. Meanwhile, it has a 52-week high and a 52-week low of Rs 2,879 and Rs 1,701, respectively.