Caplin Point down 4.5%

Today morning, Caplin Point Labs announced that it’s subsidiary has received the final approval from the United States Food and Drug Administration (USFDA) for the Abbreviated New Drug Application (ANDA) Ephedrine Sulfate injection USP, 50 mg/mL Single Dose vial, a generic therapeutic equivalent version of the Reference Listed Drug (RLD) AKOVAZ.

This drug is used for the treatment of clinically important hypotension occurring in the setting of anaesthesia.

According to IQVIATM (IMS Health), Ephedrine Sulfate injection USP 50 mg/mL had US sales of approximately $36 million for the 12-month period ending May 2024.

The market is yet to react positively to this news as the stock remains in the same shade as that of the market – red.

The stock slipped 4.5% to hit an intraday low at Rs.1460.25 and is currently trading at Rs.1471 levels. Its 52-week high is at Rs.1617.80.