Concord Biotech Ltd receives ANDA approval for Tofacitinib Tablets, 5 mg and 10 mg

Concord Biotech Limited has received approval from the U.S. Food and Drug Administration (USFDA) for its ANDA for Tofacitinib Tablets, 5 mg and 10 mg. Tofacitinib tablets are indicated for the treatment of adult patients with Moderately to severely active rheumatoid arthritis (RA), Active psoriatic arthritis (PsA), Active ankylosing spondylitis (AS), Moderately to severely active ulcerative colitis (UC), Active PsA, Active polyarticular course juvenile idiopathic arthritis (pcJIA).

According to market estimates, the U.S. market for Tofacitinib Tablets both strengths put together is approximately US$ 500 million. The approval positions the Company to capitalize on these attractive market opportunities, enhance its product offerings, and support its long-term growth strategy across the U.S. and international markets.

Shares of Concord Biotech Limited was last trading in BSE at Rs. 1345.30 as compared to the previous close of Rs. 1326.85. The total number of shares traded during the day was 14258 in over 917 trades.

The stock hit an intraday high of Rs. 1349.00 and intraday low of 1299.35. The net turnover during the day was Rs. 18982803.00.

Source : Equity Bulls

Keywords

ConcordBiotech Pharmaceuticals INE338H01029 USFDA ANDA Approval TofacitinibTablets