Why are Indoco Remedies shares up 2% today? Explained
Indoco Remedies Ltd shares climbed over 2% to ₹299.30 in morning trade on Tuesday after the company announced it has received final approval from the US Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Rivaroxaban tablets, a generic version of Bayer's blockbuster anticoagulant Xarelto.
The approval covers multiple dosage strengths — 2.5 mg, 10 mg, 15 mg, and 20 mg — positioning Indoco to tap into the lucrative US market for blood thinners, which has significant demand due to rising cardiovascular cases. Industry data shows Rivaroxaban sales in the US crossed $2 billion in recent years.
Indoco said the launch will be executed through its marketing partner in the US, adding that this development strengthens its complex generics portfolio and enhances its revenue visibility in the American market.
The stock's rally reflects investor optimism about the earnings potential from this launch, given that US generics typically offer higher margins than domestic formulations.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in equities involves risks. Please consult a certified financial advisor before making any investment decisions.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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