Indoco Remedies announced receipt of approval for its ANDA for Apixaban Tablets 2.5mg ∧ 5mg. The products are therapeutically equivalent to the Reference Listed Drug 'Eliquis' of Bristol-Myers Squibb (BMS).

Apixaban is an anticoagulant, or blood thinner. It is used for patients with health problems caused by a blood clot.

The US market size of Apixaban Tablets is USD 11,037 million as per IMS MAT June'20 data.

Commenting on this development, Ms. Aditi Kare Panandikar, Managing Director - Indoco Remedies Ltd. said, "The receipt of approval from the US health regulator for the generic version of Apixaban Tablets is encouraging."

Shares of INDOCO REMEDIES LTD. was last trading in BSE at Rs.220.3 as compared to the previous close of Rs. 219.9. The total number of shares traded during the day was 5695 in over 280 trades.

The stock hit an intraday high of Rs. 224 and intraday low of 218.6. The net turnover during the day was Rs. 1258068.

Source: Equity Bulls