Jubilant Life Shares Jump 10% As Arm Gets USFDA Nod For Drug

Jubilant Life Shares Jump 10% As Arm Gets USFDA Nod For Drug
New Delhi: Shares of Jubilant Life Sciences on Monday surged 10 per cent after the company’s wholly-owned subsidiary received approval from the US health regulator for a new drug in the US market.

The scrip jumped 9.99 per cent to Rs 676.10 — a 52-week high on BSE.

Similarly, on NSE, shares of the company soared 9.99 per cent to touch a one-year high of Rs 675.70.

In a BSE filing, the company said, “Its wholly-owned subsidiary Jubilant Pharma, through one of its units Jubilant DraxImage Montreal Canada, has received US Food and Drug Administration approval for RUBY-FILL, its New Drug Application (NDA), pursuant to section 505 (b)(2) filing.”

It further said: “The product is expected to be launched in the current quarter (third quarter of the financial year 2017) under the company’s registered brand name RUBY-FILL for which the current estimated US market size is $76 million and has a potential to grow up to $250 million annually in the next five years.”

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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