Indoco Remedies receives USFDA final ANDA approval for Lofexidine Tablets 0.18 mg with Competitive Generic Therapy designation

Indoco Remedies Limited ("Indoco") announced the receipt of final approval from the USFDA for Abbreviated New Drug Application (ANDA) for Lofexidine Tablets 0.18 mg to market a generic equivalent of Lucemyra Tablets, 0.18 mg of USWM, LLC.

Indoco has been granted a Competitive Generic Therapy (CGT) designation by the USFDA and being the first approved generic, is eligible for 180 days of CGT exclusivity for Lofexidine Tablets, 0.18 mg ("Product") in the USA. This exclusivity will begin to run from the date of the first commercial marketing of the product. Indoco intends to launch the product immediately in the USA.

This product will be manufactured by Indoco at its manufacturing facility located at L-14, Verna Industrial Area, Verna, Goa - 403722 in India.

This product is indicated for mitigation of symptoms associated with acute withdrawal from opioids and for facilitation of the completion of opioid discontinuation treatment.

As per IQVIA Health data, the sales of the product are around USD 15.59 million with an expected growth of 38%.

Commenting on the achievement, Ms. Aditi Panandikar, Managing Director said, "We are extremely pleased with this development as this strengthens our position in the US market, driving us closer to expanding our reach in the US."

Shares of Indoco Remedies Limited was last trading in BSE at Rs. 335.40 as compared to the previous close of Rs. 330.35. The total number of shares traded during the day was 9495 in over 649 trades.

The stock hit an intraday high of Rs. 338.15 and intraday low of 329.45. The net turnover during the day was Rs. 3169569.00.

Source : Equity Bulls

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IndocoRemedies INE873D01024 USFDA FinalApproval ANDA LofexidineTablets