The abbreviated new drug applications (ANDAs) approval from the US Food and Drug Administration is for Quetiapine Fumarate tablet, generic version AstraZeneca's Seroquel is in strength of 25 mg (base).
"We expect to launch this product in Q4 FY14," the company said in a statement.
Quoting IMS data, the company said the current total market size for this product USD 59 million per annum. As on September 30, 2013, Jubilant Life Sciences had a total of 676 filings for formulations of which 218 have been approved in various regions of the world. This includes 58 ANDAs filed in the US and 48 Dossier filings in Europe.
Shares of Jubilant Life Sciences closed at Rs 126.75 apiece, down 0.63 per cent from their previous close on the BSE.
Jubilant Life stock price
On November 28, 2013, Jubilant Life Sciences closed at Rs 126.75, down Rs 0.8, or 0.63 percent. The 52-week high of the share was Rs 248.25 and the 52-week low was Rs 65.10.
The latest book value of the company is Rs 116.89 per share. At current value, the price-to-book value of the company was 1.08.
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