Shares of Marksans Pharma Ltd were trading in the green and 1.8% higher on 30 May after the company’s subsidiary secured marketing approval.
The company stated in a stock exchange filing that the UK Medicines and Healthcare Products Regulatory Agency (UKMHRA) granted market authorisation for the former’s subsidiary Relonchem Ltd Metformin Hydrochloride oral solution in the 500 mg/5 ml strength.
Moreover, the approval is a significant milestone for Marksans Pharma as it expands its footprint in the anti-diabetic pharmaceutical area in the UK market, according to the business.
Metformin Hydrochloride Oral Solution is used to treat type 2 diabetes and is an important drug for people who require oral liquid dosage forms.
According to the US government’s MedlinePlus website, Relonchem got marketing permission from the UK authority earlier this month for Sennosides 7.5 mg tablets, a drug intended to treat constipation.
Earlier in May, Relonchem secured regulatory approval for Gabapentin Oral Solution 50 mg/ml, a medication used to manage nerve pain and epilepsy.
Additionally, in March, Marksans Pharma’s manufacturing facility in Verna, Goa, received clearance from Australia’s Therapeutic Goods Administration (TGA), further expanding the company’s regulatory footprint across global markets.
At 2:10 pm, the shares of Marksans Pharma were trading 1.23% higher at Rs 263.45 on NSE.
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