Caplin Point jumps 6% on USFDA nod for local anesthesia.
This is a generic therapeutic equivalent version of NAROPIN
Injection, of Fresenius Kabi USA LLC.
Shares of Caplin Point Laboratories jumped over 6 percent after the company said it has been granted final approval from the United States Food and Drug Administration (USFDA) for its Ropivacaine
This is a generic therapeutic equivalent version of NAROPIN Injection, of Fresenius Kabi USA LLC. Ropivacaine Hydrochloride is a long acting local
anesthetic drug used for surgery or acute pain management.
CCParthiban, Chairman of Caplin Point Laboratories Limited said, “We’re glad to receive this approval, particularly as this product has been frequently on the shortage list in the US in recent times. We would be launching this product shortly, and hope to alleviate some of the shortages.”
The company said it is also working on a portfolio of 35 simple and complex Injectable and Ophthalmic products, to be filed over the next four years.
According to IQVIATM (IMS Health), Ropivacaine Hydrochloride injection USP had US sales data of approximately $34 million for the 12-month period ending Dec 2019.
Caplin Point Laboratories is engaged mainly in manufacturing a wide range of Ointments, Creams and other External application preparations in addition to the regular segments of pharmaceutical formulations.
The stock was up 6.36 percent to Rs 308.50 on BSE.