Indoco Remedies received final approval of its ANDA for Febuxostat Tablets 40 mg and 80 mg, which is therapeutically equivalent to the Reference Listed Drug (RLD), viz., Uloric Tablets 40 mg and 80 mg of Takeda Pharmaceuticals U.S.A., Inc.

The market size of Febuxostat tablets in USA is over USD 500 million.

Febuxostat is used for the treatment of gout caused by excessive levels of uric acid in the blood (Hyperuricemia). Febuxostat prevents the production of uric acid by blocking the activity of the enzyme (xanthine oxidase) that converts purines to uric acid. Uric acid forms crystals in joints and tissues, causing inflammation and pain. Hyperuricemia can cause kidney disease and kidney stones as well.

Commenting on this achievement, Ms. Aditi Kare Panandikar, Managing Director - Indoco Remedies Ltd. said, "Receipt of ANDA approval for Febuxostat Tablets for the US market is very encouraging and has added another feather to Indoco's cap."

Shares of INDOCO REMEDIES LTD. was last trading in BSE at Rs.192.5 as compared to the previous close of Rs. 180.3. The total number of shares traded during the day was 9535 in over 654 trades.

The stock hit an intraday high of Rs. 195.7 and intraday low of 178.65. The net turnover during the day was Rs. 1834608.

Source: Equity Bulls