Unichem Labs spikes post USFDA approval

Unichem Laboratories has received ANDA approval for its allopurinol tablets. The shares jumped up by 2 per cent in the last trading session on Wednesday after the company informed about the development.

Allopurinol tablets USP 100 mg and 300 mg has been given approval by the United States Food and Drug Administration (USFDA) to market the generic version of Zyloprim (allopurinol) tablets. The said tablets will be manufactured at Unichem’s Ghaziabad plant. Allopurinol is generally used to treat gout and certain types of kidney stones. It is also used to prevent increased uric acid levels in patients receiving cancer chemotherapy.

Unichem Laboratories is a pharmaceutical company that manufactures active pharmaceutical ingredients (API). The company offers multiple pharma products in therapeutic areas, such as gastroenterology, cardiology, diabetology, psychiatry, neurology, anti-bacterials, etc. Its products are used for the treatment of acne, immune-mediated skin disorders, hereditary skin diseases and genodermatoses, among many others.

The shares of Unichem Laboratories on Wednesday opened at Rs. 202.45 per share and closed at Rs. 204.75, gaining 1.16 per cent. The stock reached an intraday high of Rs. 207.70 and an intraday low of Rs. 200.45 per share on the BSE. The 52-week high stood at Rs. 354 and the 52-week low was Rs 182 per share on the BSE.