The Shilpa Medicare share price mounted 9% in the opening trade on Tuesday soon after the company acknowledged the final approval for its Apremilast tablets from the US Food and Drug Administration (USFDA).

The business has expected the USFDA final approval for its ANDA for Apremilast Tablets of 10 mg, 20 mg, and 30 mg for the treatment of adult patients with active psoriatic arthritis, Shilpa Medicare stated in its release. The product is implemented from a contract manufacturing site.

Apremilast is a generic medicine equivalent to the Reference Listed Drug (RLD) OTEZLA of Celgene. As per the IQVIA MAT Q4 2022 data, the United State market for Apremilast Tablets is around $3.55 billion.

At 9:21 am, Shilpa Medicare was trading at Rs 251.65, up Rs 18.45, or 7.91% on the Bombay Stock Exchange. The share moved a 52-week high of Rs 503.05 and a 52-week low of Rs 222.40 on April 13, 2022, and March 28, 2023, individually.

It is now trading 49.98% below its 52-week high and 13.15% above its 52-week low.