Shares of Shilpa Medicare gained as much as 5.23% on Tuesday after the company launched generic drug to treat advanced kidney cancer.
At 1:20 pm, Shilpa Medicare was trading at ₹491.55, up nearly 4% on the BSE, while the benchmark index, Sensex gained 0.6% to 35,164.84.
After launching three products in the Cancer therapy in India market, the company today launched the generic of variant of Axitinib, an tyrosine kinase inhibitor drug with a brand name AXISHIL, as per company release.
AXISHIL is available as 1 mg & 5 mg tablets in pack of 14’s tablets in one bottle and is used to treat patients suffering from Advanced Renal Cell Carcinoma (RCC).
From the beginning of the year, Shilpa Medicare gained 75% against a drop of 15% in the benchmark index, Sensex.
For the quarter ended 31 March, Shilpa Medicare reported a rise of 44.8% to ₹34.57 crore in net profit against ₹23.88 crore for the same quarter last year. Net Sales gained 10.3% to ₹219.99 crore for the quarter ended 31 March over ₹199.52 crore for the corresponding quarter last year.
Driving the Vision of Shilpa Medicare of “Innovating for affordable healthcare", AXISHIL is being launched to provide global quality Indian Brand with greater affordability to cancer patients," said Sundeip Bhatia, Business Head Formulations India of Shilpa Medicare.
Shlipa Medicare Ltd deals in high-quality Active Pharmaceutical Ingredients (APIs), Bulk drug, Intermediates, Formulations and Development service, New Drug Delivery Systems, Peptides / Biotech products and Specialty Chemicals etc. using sophisticated technology meticulously in order to comply with laid down international standards/specifications.