Caplin Steriles gets USFDA approval for Argatroban Injection

Caplin Point Laboratories Limited (BSE: CAPPL (524742), NSE: CAPLIPOINT) Caplin Steriles Limited (Caplin), a Subsidiary Company of Caplin Point Laboratories Limited, has been granted final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Argatroban Injection, 50 mg/50 ml (1 mg/ml) Single-dose vial presentation, a generic therapeutic equivalent version of (RLD), ARGATROBAN INJECTION, of Hikma Pharmaceuticals Limited.

Caplin has received a CGT (Competitive Generic Therapies) Grant for this ANDA and Caplin is the "first approved applicant" for such competitive generic therapy, as defined in section 505(j)(5)(B)(v)(III) of the FD&C Act. Therefore, with this approval, Caplin is eligible for 180 days of CGT exclusivity for Argatroban Injection, 50 mg/50 ml (1 mg/ml) Single-Dose Vial, under section 505(j)(5)(B)(v) of the FD&C Act.

Argatroban is used as an anticoagulant for prophylaxis or treatment of thrombosis in patients with heparin-induced thrombocytopenia. According to IQVIA™ (IMS Health), Argatroban Injection had US sales data of approximately $18 million for the 12-month period ending Sep 2020.

Mr. C. C. Paarthipan, Chairman of Caplin Point Laboratories Limited commented "We're excited to receive our first approval with CGT exclusivity from our pipeline. We will target launching the product within the shortest time possible."

Shares of CAPLIN POINT LABORATORIES LTD. was last trading in BSE at Rs.488.5 as compared to the previous close of Rs. 494.3. The total number of shares traded during the day was 5058 in over 312 trades.

The stock hit an intraday high of Rs. 499.55 and intraday low of 484.9. The net turnover during the day was Rs. 2480322.

Source : Equity Bulls

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