The stock price has increased by 34.73% in last one week, while the benchmark index S&P BSE Sensex has increased by 0.57%.
The stock has surged 37% in the last 7 trading days after after its subsidiary Caplin Steriles received approval from the United States Food and Drug Administration (USFDA) for generic Sumatriptan injection used for acute treatment of migraine and cluster headache.
“The United States Food and Drug Administration (USFDA) has granted final approval to Caplin Steriles for its Abbreviated New Drug Application (ANDA) Sumatriptan Injection USP, 6 mg/0.5 mL (12 mg/mL) single-dose vials. Caplin Point Laboratories said in a press release that the product is a generic therapeutic equivalent version of GlaxoSmithKline’s (RLD), IMITREX Injection.
Sumatriptan Injection USP is approved for the acute treatment of migraine with or without aura, as well as the acute treatment of cluster headache in adults. According to IQVIATM, Sumatriptan Injection had US sales of approximately $5 million for the 12-month period ending March 2021 for vial presentation (IMS Health).
Caplin Point Laboratories Ltd’s Board of Directors, at its meeting on May 6, 2021, declared an Interim Dividend of Rs. 1.50/- (75%) per equity share of Rs. 2 each for the fiscal year ended March 31, 2021.
Caplin Steriles Ltd, a subsidiary of Caplin Point Laboratories Limited, is a sterile product manufacturing company that is FDA and EU-GMP approved. Caplin Steriles Limited has developed and filed 20 ANDAs in the United States on its own and with partners, with 16 approvals so far. The company is also working on a portfolio of 35 simple and complex injectable and ophthalmic products that it plans to file over the next four years.
Caplin Point Laboratories Limited is a rapidly expanding pharmaceutical company with a distinct business model focused primarily on emerging markets in Latin America and Africa. Caplin Point has cutting-edge manufacturing facilities that can produce a wide range of finished dosage forms. Caplin Steriles Limited, a subsidiary of the company, serves the Regulated Markets for Injectable and Ophthalmic products.
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