Shares of Orchid Chemicals & Pharmaceuticals zoomed over 17 per cent on Thursday as the drug firm received nod from the U.S. health regulator for generic anti-bacterial Gemifloxacin Mesylate tablets.
Cheering the news, the stock soared 16.31 per cent to Rs. 57.40 at the BSE. On the NSE, it surged 17.15 per cent to Rs. 57.70.
The company has received approval from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Gemifloxacin Mesylate tablets in the strength of 320 mg, Orchid Chemicals & Pharmaceuticals had said in a filing to the BSE on Wednesday.
The approval is with 180 days of generic drug exclusivity, it added.
