Jubilant Life Sciences Shares Surge After US FDA Approval

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Shares in Jubilant Lifesciences surged after the company received an approval from the US FDA for one of its products.

The shares of the company jumped 6 per cent and was last seen trading at Rs 657 on the NSE.

Jubilant Life Sciences Shares Surge After US FDA Approval
Jubilant Life Sciences: Quotes, News
BSE 689.25BSE Quote39.95 (5.80%)
NSE 689.35NSE Quote42.35 (6.14%)
"Jubilant Life Sciences Ltd, an integrated global Pharmaceuticals and Life Sciences Company, has announced that its wholly own subsidiary Jubilant Pharma Limited, through one of its units Jubilant DraxImage Inc.Montreal Canada, has received U.S. Food and Drug Administration approval for RUBY-FILL, for its New Drug Application (NDA) pursuant to section 505 (b)(2) filing.

This approved new drug application provides for the use of RUBY-FILL for Positron Emission Tomography (PET) imaging of the myocardium under rest or pharmacologic stress conditions to evaluate regional myocardial perfusion in adult patients with suspected or existing coronary artery disease," the company said in a filing to the BSE.

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


Read more about: jubilant
Story first published: Monday, October 3, 2016, 11:56 [IST]
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