Marksans Pharma gets USFDA approval for anti-allergy drug

22 Nov 2024 , 02:54 PM

Marksans Pharma Ltd shares increased 3.2% on Friday, November 22, after the firm received final approval from the US Food and Drug Administration (USFDA) for its Loratadine Tablets, which are used to relieve allergies.
The US Food and Drug Administration (FDA) approved the pharmaceutical company’s Abbreviated New Drug Application (ANDA) for Loratadine Tablets USP 10 mg. This medication is a generic version of the Claritin pill, which was originally made by Bayer Healthcare, Marksans Pharma told stock markets.
Loratadine tablets are used to treat allergic rhinitis caused by pollen or upper respiratory tract allergies. They are accessible over the counter (OTC). The medication, which is an antihistamine similar to Claritin, cures symptoms of ‘hay fever’ and other allergens such as itching, runny nose, watery eyes, and sneezing.
The Mumbai-based firm has announced outstanding financial success for the quarter ending September 30, 2024, following on solid results in the first quarter.
In Q2FY25, the company’s gross profit increased by 37.7% YoY to ₹383.5 Crore, from ₹278.5 Crore in the same quarter prior year. Gross margins rose by 732 basis points to 59.7%, thanks to decreased raw material prices and a better product mix.
At around 2.31 PM, Marksans Pharma was trading 0.15% higher at ₹309.60, against the previous close of ₹309.15 on NSE. The counter touched an intraday high and low of ₹319.20, and ₹ 306.05, respectively.
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