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Jubilant Life down 4% despite USFDA nod

Jubilant Life down 4% despite USFDA nod

The company announced that its subsidiary Jubilant HollisterStier LLC, Spokane, Washington, has received Abbreviated New Drug Application (ANDA) approval for 0.9% Sodium Chloride Injection USP, 3 mL and 10 mL vials, the generi equivalent of Sodium Chloride 0.9% in Plastic Container, of Hospira, Inc., which is indicated only for diluting or dissolving drugs for intravenous, intramuscular or subcutaneous injection, according to instructions of the manufacturer of the drug to be administered.

Shares of Jubilant Life Sciences closed 4.41% lower at Rs. 339.50 on BSE despite the company received USFDA nod for Sodium Chloride Injection.

The company announced that its subsidiary Jubilant HollisterStier LLC, Spokane, Washington, has received Abbreviated New Drug Application (ANDA) approval for 0.9% Sodium Chloride Injection USP, 3 mL and 10 mL vials, the generi equivalent of Sodium Chloride 0.9% in Plastic Container, of Hospira, Inc., which is indicated only for diluting or dissolving drugs for intravenous, intramuscular or subcutaneous injection, according to instructions of the manufacturer of the drug to be administered.

The scrip opened at Rs. 359 and touched a high and low of Rs. 370.4 and Rs. 335 respectively. A total of 1344477(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5657.54 crore.

The BSE group 'A' stock of face value Rs. 1 touched a 52 week high of Rs. 455 on 07-Dec-2015 and a 52 week low of Rs. 162.5 on 03-Jun-2015. Last one week high and low of the scrip stood at Rs. 394.15 and Rs. 349.1 respectively.

The promoters holding in the company stood at 54.02 % while Institutions and Non-Institutions held 27.56 % and 15.96 % respectively.

The stock traded below its 50 DMA.

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