Shares of Concord Biotech Limited climbed as much as 8% on 3 June, touching a day high of Rs 1,264.90 on NSE, after the company secured approval from the US Food and Drug Administration for its Mycophenolate Mofetil for Oral Suspension USP, 200 mg/mL.

The approval came through the Abbreviated New Drug Application route, or ANDA, which is the standard pathway for generic drugs seeking entry into the US market.

Mycophenolate Mofetil is used to stop the body from rejecting a transplanted organ. It works for patients who have received a kidney, heart or liver transplant, and it can be given to children as young as three months. 

Because it comes as an oral suspension, a liquid rather than a tablet, it is particularly useful for children and patients who have difficulty swallowing tablets.

According to industry estimates cited by the company in its exchange filing, the total US market for this drug is valued at around $30 million annually.

Concord Biotech also said the approval fits into its wider plan of growing its presence across regulated international markets, with the US being the most closely watched.

The stock had already risen sharply in Tuesday’s session ahead of this announcement, with the previous close recorded at Rs 1,166.20 on NSE.

At 10:35 am on 3 June, CONCORDBIO was trading up 5.67% at Rs 1,232.30 on NSE. The stock’s 52-week high stands at Rs 2,150.40, touched on 11 June 2025.

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