Indoco Remedies Ltd announced receipt of approval for its ANDA for Olanzapine Tablets USP 2.5mg, 5mg, 7.5 mg, 10mg, 15mg and 20 mg. The products are therapeutically equivalent to the Reference Listed Drug 'Zyprexa' of Eli Lilly.

Olanzapine is indicated for the treatment of schizophrenia and bipolar disorder. The drug may also be used in combination with other medication to treat depression and certain mental conditions.

The US market size of Olanzapine Tablets is USD 65 million as per available IMS data.

Commenting on this development, Ms. Aditi Kare Panandikar, Managing Director - Indoco Remedies Ltd. said, "The receipt of approval from the US health regulator to market the generic version of Olanzapine Tablets is very encouraging and will further supplement the solid dosage business for Indoco in the US."

Shares of INDOCO REMEDIES LTD. was last trading in BSE at Rs.234.15 as compared to the previous close of Rs. 234.95. The total number of shares traded during the day was 11306 in over 541 trades.

The stock hit an intraday high of Rs. 241.4 and intraday low of 231.6. The net turnover during the day was Rs. 2652701.

Source: Equity Bulls