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AstraZeneca Pharma pops 4% on CDSCO nod to import Durvalumab solution
At 12:31 PM, AstraZeneca Pharma share price continued to trade near day's high levels, up 3.28 per cent at ₹9,190. In comparison, BSE Sensex was trading 0.19 per cent lower at 83,535.28 levels.
What triggered the up move in AstraZeneca Pharma share price?
AstraZeneca Pharma shares rose after the company received regulatory approval to expand the use of its cancer drug Imfinzi (Durvalumab) in India. The Central Drugs Standard Control Organisation (CDSCO) granted permission to import and distribute Durvalumab Solution for Infusion (120 mg/2.4 ml and 500 mg/10 ml) for an additional indication.
In an exchange filing, AstraZeneca Pharma said, 'This is to inform that AstraZeneca Pharma India Limited has received permission from the Central Drugs Standard Control Organisation, Directorate General of Health Services, Government of India to import for sale and distribution of Durvalumab Solution for Infusion 120 mg/2.4 ml and 500 mg/10 ml (Brand name: Imfinzi) for an additional indication.'
The new approval allows Durvalumab, in combination with carboplatin and paclitaxel, to be used as a first-line treatment for adults with primary advanced or recurrent endometrial cancer who are candidates for systemic therapy. This is followed by maintenance treatment with Durvalumab and olaparib in cases of mismatch repair proficient (pMMR) endometrial cancer.
The development enables AstraZeneca Pharma to market the drug in India for the newly approved indication, subject to further statutory approvals, if required. Track Stock Market LIVE Updates
About AstraZeneca Pharma
AstraZeneca Pharma is a British-Swedish multinational pharmaceutical and biotechnology company, formed in 1999 through the merger of Sweden's Astra AB and Britain's Zeneca Group.
The company is dedicated to developing and selling innovative medicines across various therapeutic areas, including cancer, cardiovascular diseases, gastrointestinal issues, infections, neuroscience, respiratory conditions, and inflammation.
The company has had a major presence in India for 45 years. AstraZeneca Pharma India oversees manufacturing, sales, and marketing operations, while the company also gained global recognition for its role in developing the Oxford–AstraZeneca Covid-19 vaccine
Leveraging data science and artificial intelligence (AI), AstraZeneca claims to boost the success rates and efficiency of its research and development (R&D) processes.
The market capitalisation of AstraZeneca Pharma is ₹22,988.75 crore, according to BSE. The company falls under the BSE500 index. The 52-week high of AstraZeneca share price is ₹10,653.05, while its 52-week low is ₹6,222.35.
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