Shares of AstraZeneca hit upper circuit in the trade after the company announced that that it has launched FORXIGA, a breakthrough treatment for Type 2 diabetes mellitus.
The shares of the company were sen trading at Rs 1147 higher by 20 per cent on BSE.
FORXIGA belongs to a new class of Type 2 diabetes mellitus medication-a highly selective inhibitor of sodium-glucose cotransporter 2 (SGLT2), the company said in the BSE filing.
It has a unique insulin independent mode of action that helps remove excess glucose from the body via urine which is associated with reductions in glycated haemoglobin (HbA1c), weight and systolic blood pressure, added further.
Globally, FORXIGA is the first medicine in the new SGLT2 inhibitor class to gain regulatory approval for the treatment of Type 2 diabetes mellitus.
AstraZeneca is a global, innovation-driven biopharmaceutical business that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection and neuroscience diseases.