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Caplin Steriles Gets USFDA Approval For Verapamil Hydrochloride Injection USP

Caplin Point Laboratories Limited (BSE: CAPPL (524742), NSE: CAPLIPOINT) Caplin Steriles Limited, a Wholly Owned Subsidiary Company of Caplin Point Laboratories Limited, has been granted final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Verapamil Hydrochloride injection USP, 5 mg/2 mL (2.5 mg/mL) and 10 mg/4 mL (2.5 mg/mL) Single-dose vial, a generic therapeutic equivalent version of (RLD), Isoptin Injection, 2.5 mg/mL, of Mt. Adams Technologies LLC. According to IQVIA™ (IMS Health), Verapamil Hydrochloride injection USP had US sales data of approximately US$28 million for the 12-month period ending Dec 2019. Verapamil Hydrochloride is a calcium channel blocker used in the treatment of cardiac conditions such as high blood pressure, arrhythmias and angina.

Caplin Steriles Limited, has developed and filed 15 ANDAs on its own and with partners, with 7 approvals so far. Mr.C.C.Paarthipan, Chairman of Caplin Point Laboratories Limited commented “We are pleased to receive another approval under Caplin Steriles name and we would be launching this product in the US soon. We’re also expecting a couple more approvals shortly, which should enhance our revenue traction in the US.”

The Company is also working on a portfolio of 35 simple and complex Injectable and Ophthalmic products, to be filed over the next 4 years.

Shares of CAPLIN POINT LABORATORIES LTD. was last trading in BSE at Rs.204.8 as compared to the previous close of Rs. 193.75. The total number of shares traded during the day was 7465 in over 361 trades.

The stock hit an intraday high of Rs. 209 and intraday low of 192. The net turnover during the day was Rs. 1480339.

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