Shilpa Medicare jumps 9% on USFDA nod for Dimethyl Fumarate that used for multiple sclerosis patients

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Dimethyl Fumarate delayed-release capsules is a generic of Tecfidera.

Shilpa Medicare shares spiked 8.75 percent intraday Friday after receiving tentative approval from the US health regulator for Dimethyl Fumarate delayed-release capsules.

Dimethyl Fumarate delayed-release capsules is a generic of Tecfidera.

Abbreviated new drug application (ANDA) for Dimethyl Fumarate delayed-release capsules in the strengths of 120 mg and 240 mg has been granted tentative approval by the United States Food and Drug Administration (USFDA), Shilpa Medicare said in a BSE filing.

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The drug is used for the treatment of relapsing forms of multiple sclerosis.

Quoting IQVIA MAT second quarter 2018 data, Shilpa Medicare said the US market for Dimethyl Fumarate delayed-release capsules is approximately $3.46 billion.

At 12:03 hours IST, the stock was quoting at Rs 393.85, up Rs 19.85, or 5.31 percent on the BSE.

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