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This pharma co's stock rose on launching iron supplement to treat anemia
Wanbury shares rose 2.4 per cent in trade on Friday, logging an intraday high at ₹282 per share on BSE. The stock climbed after the company launched iron supplement 'Wanbury C RED'.
At 12:36 PM, Wanbury share price was trading 2.4 per cent higher at ₹282 per share on the BSE. In comparison, the BSE Sensex was up 0.24 per cent at 83,958.11. The company's market capitalisation stood at ₹924.13 crore. Its 52-week high was at ₹330 per share and 52-week low was at ₹151.1 per share.
In one year, Wanbury shares have gained 77 per cent as compared to Sensex's rise of 6 per cent.
Why were Wanbury shares rising?
The buying interest on the pharma company's counter came after it launched 'Wanbury C RED', a Liposomal Iron formulation mainly designed to treat anemia.
According to the filing, this novel formulation leverages liposomal technology, which ensures enhanced absorption, minimal metallic aftertaste, reduced risk of constipation, and no calcium chelation thus making it a safe and highly tolerable option for long-term use, especially in pregnant women and iron-deficient individuals.
The product was recently launched in Northern India followed by Southern India. Wanbury aims to scale up distribution Pan-lndia in the first few months of the launch.
"The strong debut of Wanbury C RED and the encouraging endorsement from clinicians/ doctors in the North and South zone give us the confidence to accelerate our nationwide expansion. With robust sales momentum, our Pan-India rollout is already in motion. We believe Wanbury C RED will play a significant role in reinforcing Wanbury's presence in key therapeutic areas while driving both reach and profitability in the domestic formulations market," said Mohan Rayana, director, Wanbury.
About Wanbury
The company has a strong presence in the Active Pharmaceutical Ingredient (API) global market and domestic branded Formulation with its API being exported to over 50 countries. The API product portfolio includes: Metformin, Sertraline, Tramadol, Diphenhydramine, Mefenamic acid, Paroxetine, Ketamine Hydrochloride, and various other products in the pipeline. The company's clients include some of the leading global generic players.
In formulations, the company has a wide presence across major therapeutic categories like cough and cold solutions, gynecology, orthopaedics, nutraceuticals, gastrointestinal, anti-inflammatory, and analgesics.
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