Mangalam Drugs hits upper circuit

The company received World Health Organisation's final approval for anti-HIV drug Efavirenz. The stock hit upper circuit right from pre-opening trading session and was buzzing through the day.

The stock opened in upper circuit limit of Rs. 80.05 per share, up by 5 per cent, but later dipped up to a low of 76.55 per share on Tuesday. The company's 45th AGM is also schedule to be held on Tuesday, September 25.

Efavirenz (Sustiva) is a preferred option for treatment of human immunodeficiency virus (HIV) in adults. Efavirenz reduces the amount of virus in the patient's body. The drug is widely used non-nucleoside reverse transcriptase inhibitors (NNRTIs) used in first-line antiretroviral therapy (ART). It slows down the damage to the patient's immune system and prevents the occurrence of AIDS-defining illnesses.

Mangalam Drugs & Organics has a diversified pharma portfolio. It manufactures products in Anti-Malarial, Analgesic / Anti-Inflammatory, Anti-Hypertensive and Anti-retroviral thearpuetic category.

At 15:18 hours, the stock of Mangalam Drugs was at Rs. 80.00 per share, up by Rs. 2.90 or 3.80 per cent. Meanwhile, the benchmark index BSE Sensex was at 36,661.20, up by 356.18 or 0.98 per cent on Tuesday.