Unichem Laboratories advances 3% on ANDA approval for Valsartan tablets

Shares of Unichem Laboratories added 3.2 percent intraday Tuesday on the back of USFDA approval for Valsartan tablets.

The company has received ANDA approval from United States Food and Drug Administration (USFDA) for Valsartan Tablets USP, 40 mg, 80 mg, 160 mg and 320 mg.

The Valsartan Tablets are therapeutically equivalent to DIOVANB (Valsartan) tablets of Novartis Pharmaceuticals Corp.

Valsartan is a nonpeptide, orally active, and specific angiotensin II receptor blocker acting on the AT1 receptor subtype.

This product will be commercialized from company’s Ghaziabad plant.

The board meeting is scheduled to be held on May 29 to consider the audited financial results of the company for the year ended March 31, 2018 and recommendation of dividend, if any, for the financial year ended March 31, 2018.

At 10:23 hrs Unichem Laboratories was quoting at Rs 283.35, up Rs 4.05, or 1.45 percent on the BSE.

Posted by Rakesh Patil

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