Indoco Remedies soars 13 per cent on getting ANDA approval

Indoco Remedies informed the bourses today that it has received approval for its ANDA for Apixaban tablets 2.5 mg & 5 mg. The products are therapeutically equivalent to the reference listed drug ‘Eliquis’ of Bristol-Myers Squibb (BMS).

Apixaban is an anticoagulant i.e. a blood thinner. It is used for patients with health problems caused by a blood clot. The US market size of Apixaban tablets is USD 11,037 million as per IMS MAT June 20 data.

Last month, the company received approval for its ANDA for Olanzapine tablets USP 2.5mg, 5mg, 7.5 mg, 10mg, 15mg, and 20 mg. The products are therapeutically equivalent to the reference listed drug ‘Zyprexa’ of Eli Lilly. Olanzapine is indicated for the treatment of schizophrenia and bipolar disorder. As of FY20, the company has 12 approved ANDAs while 35 are still pending for approvals.

Post this development, the stock of Indoco Remedies surged on the bourses by nearly 13.4 per cent to touch an intraday high of Rs 251 apiece.

Indoco Remedies Ltd is a fully integrated, research-oriented pharma company with a presence in 55 countries. The company has 9 manufacturing facilities, 6 of which are for FDFs and 3 for APIs, supported by a state-of-the-art R&D centre and a CRO facility.