Shares of Laurus Labs closed more than 1% on May 2, extending gains from another session after the US health regulator approved its HIV drug. The stock had risen more than 6% in the previous two sessions.
The pharmaceutical and biotech company told exchanges it had received preliminary approval from the USFDA for the world’s first orally dispersible film (ODF) for the paediatric ARV (antiretroviral) treatment Dolutegravir.
This would provide significant benefits regarding adherence to ARV drug therapy in paediatric HIV treatment.
Laurus Labs is also the first company to receive generic approval for the abacavir/dolutegravir/lamivudine fixed-dose combination for the second-line treatment of adult HIV patients.
Founder and CEO Satyanarayana Chava said, “This option will facilitate strict compliance and adherence to HIV treatment and benefit caregivers.”
The stock closed 1.3% higher at Rs 311.60 on the National Stock Exchange, with 4.55 million shares traded, up from a gain of more than 5% in the previous session.