GUFIC Biosciences shares surged to a new 52-week high today!

On June 16, 2023, after the market closure GUFIC Biosciences Ltd has reported in regular filing that it has received approval from National Medical Products Administration (NMPA), China for their product PRILOCAINE (API) which is an amide-type local anaesthetic of fast onset and intermediate duration of action. This approval shall help commercialization of the PRILOCAINE product in China and explore Chinese market.  

Prilocaine has a clinical profile similar to lidocaine and is used for infiltration, peripheral nerve blocks, spinal and epidural anaesthesia, and surface anaesthesia. It has the lowest systemic toxicity of all amides local anaesthetics and has the highest clearance of all amino-amide local anaesthetics. It is associated with far fewer reported cases of transient neurological symptoms than lidocaine or mepivacaine.  

In last trading session script was closed at Rs 232.55. Today it was opened at Rs 239.55 and currently it is trading at Rs 240.30, up by 3.33%, so far 93,710 shares were traded over the counter at BSE. Today it hit new 52 week high at Rs 245 and it has 52 week low of Rs 177.10. Company has market capitalization of around Rs 1850 crore.  

Gufic is a renowned pharmaceutical company engaged in research, development, manufacturing, marketing, distribution, and sale of pharmaceutical and herbal products, including a wide range of active pharmaceutical ingredients (APIs). With a reputation for innovation and high-quality products, Gufic is among the top 100 pharmaceutical companies in India and a leading manufacturer of lyophilized injections, boasting a fully automated lyophilization plant. Their lyophilized products span various therapeutic areas, such as antibiotics, antifungals, cardiac medications, infertility treatments, antivirals, and proton-pump inhibitors (PPIs).

Company is committed to providing affordable, lifesaving drugs without compromising quality, Gufic holds approvals from various regulatory bodies including WHO-GMP, EU GMP, ANVISA Brazil, Russian GMP, Health Canada, Ukraine GMP, Australia TGA, Colombia INVIMA, and Uganda NDA. They have an impressive manufacturing capacity of 48 million lyophilized vials per year