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Caplin Point Laboratories soars as its arm gets USFDA’s nod for Sodium Nitroprusside injection

Caplin Point Laboratories is currently trading at Rs. 317.45, up by 6.90 points or 2.22% from its previous closing of Rs. 310.55 on the BSE.

The scrip opened at Rs. 312.80 and has touched a high and low of Rs. 318.45 and Rs. 312.80 respectively. So far 3301 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 466.00 on 06-Jun-2019 and a 52 week low of Rs. 295.75 on 21-Nov-2019.

Last one week high and low of the scrip stood at Rs. 325.20 and Rs. 303.00 respectively. The current market cap of the company is Rs. 2394.09 crore.

The promoters holding in the company stood at 69.03%, while Institutions and Non-Institutions held 7.82% and 23.15% respectively.

Caplin Point Laboratories’ wholly owned subsidiary — Caplin Steriles has been granted final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Sodium Nitroprusside injection, 50 mg/2 ml (25 mg/ml) Vial, a generic therapeutic equivalent version of NITROPRESS (Sodium Nitroprusside) 50 mg/vial of Hospira Worldwide, INC.

According to IQVIA (IMS Health), Sodium Nitroprusside had US sales data of approximately $8 million for the 12-months period ending March 2019. Caplin Steriles, has developed and filed 13 ANDAs on its own and with partners, with 6 approvals so far.

Sodium nitroprusside is indicated for the immediate reduction of blood pressure of adult and pediatric patients in hypertensive crises. Sodium nitroprusside is also indicated for producing controlled hypotension in order to reduce bleeding during surgery and for the treatment of acute congestive heart failure.

Caplin Point Laboratories is engaged mainly in manufacturing a wide range of Ointments, Creams and other External application preparations in addition to the regular segments of pharmaceutical formulations.

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