Indoco Remedies is currently trading at Rs. 236.95, up by 2.80 points or 1.20% from its previous closing of Rs. 234.15 on the BSE.
The scrip opened at Rs. 236.80 and has touched a high and low of Rs. 240.00 and Rs. 232.35 respectively. So far 9717 shares were traded on the counter.
The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 285.00 on 13-Apr-2020 and a 52 week low of Rs. 133.10 on 11-Oct-2019.
Last one week high and low of the scrip stood at Rs. 255.95 and Rs. 208.00 respectively. The current market cap of the company is Rs. 2190.87 crore.
The promoters holding in the company stood at 58.69%, while Institutions and Non-Institutions held 16.54% and 24.77% respectively.
Indoco Remedies has received approval from US Food and Drug Administration (USFDA) 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. The drug may also be used in combination with other medication to treat depression and certain mental conditions. The US market size of Olanzapine Tablets is $65 million.
Indoco Remedies is engaged in the manufacturing and marketing of formulations (finished dosage forms) and active pharmaceutical ingredients (APIs) in India.
