Shares of the Mumbai-based drug maker, Marksans Pharma, rose as much as 4.22 per cent to hit an intraday high of Rs 72.80 after the US drug regulator approved Abbreviated New Drug Application (ANDA) for Acetaminophen Extended-Release Tablets USP, 650 mg. Acetaminophen Extended-Release Tablets are used as a pain reliever and fever reducer.
"Acetaminophen Extended-Release Tablets are bioequivalent to the reference listed drug, Tylenol Extended-Release Tablets, 650 mg, of Johnson & Johnson Consumer Inc., McNeil Consumer Healthcare Division," Marksans Pharma said in a stock exchange filing.
Marksans will manufacture the products at its US Food and Drug Administration (USFDA) approved solid oral dosage facility located at Goa.
Marksans Pharma shares have so far this year advanced 61 per cent, massively outperforming the Sensex which has advanced 17 per cent.
As of1:07 pm, Marksans Pharma shares traded 3.15 per cent higher at Rs 72.05, outperforming the Sensex which was trading on a flat note.