Caplin Point Jumps Over 5% as Its Arm Gets USFDA Approval For Generic Eye Drop

On Thursday, Caplin Point Laboratories shares price rose by 5.25% to trade at Rs 1326.15, from its previous closing of Rs 1,259.95 on the BSE.

USFDA approval for generic eye drop

Caplin Point Laboratories’ subsidiary, Caplin Steriles has been granted final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Ketorolac tromethamine Ophthalmic Solution 0.5% (eye drops), a generic therapeutic equivalent version of (RLD), ACULAR Ophthalmic Solution of Allergan Inc.

Ketorolac tromethamine Ophthalmic Solution 0.5% is a nonsteroidal, anti- inflammatory indicated for the treatment of inflammation following cataract surgery and for the temporary relief of ocular itching due to seasonal allergic conjunctivitis. According to IQVIATM (IMS Health), Ketorolac tromethamine Ophthalmic Solution 0.5% had US sales of around $36 million for the 12-month period ending December 2023.

Company profile

Caplin Point Laboratories is engaged mainly in manufacturing a wide range of Ointments, Creams and other External application preparations in addition to the regular segments of pharmaceutical formulations.

Stock price movement

Today, the stock opened at Rs 1289.90 and has touched a high and low of Rs 1326.15 and Rs 1259.45 respectively. The BSE group ‘A’ stock of face value Rs 2 has a 52-week high and low of Rs 1,617.80 and Rs 575.00, respectively. Last one week high and low of the scrip stood at Rs 1326.15 and Rs 1240.00 respectively. The current market cap of the company is Rs 10,016.72 crore.

The promoters holding in the company stood at 70.62 % while Institutions and Non-Institutions held 3.26 % and 26.10 % respectively.

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