Shilpa Medicare in the limelight

Shilpa Medicare is in the limelight today morning. The stock opened with a gain of 3.82% and went to touch an intraday high of Rs 416, going up almost 4.5%. The stock has been gaining for the last 8 days and has risen 23.28% in the period.

The stock is in the news after it announced that it has received the US FDA approval for its ANDA, Busulfan Injection.

Busulfan Injection is a generic equivalent of reference listed drug (RLD) and is used in the treatment of patients with chronic myelogenous leukemia as recommended in the label approved by FDA.

According to IQVIA MAT Q4 2018 data, the US market for Busulfan Injection is approximately US$ 32.8 Million.