BUZZ-India's Gland Pharma advances on getting US FDA nod for vitamin K drug

Reuters

2024-12-12

BUZZ-India's Gland Pharma advances on getting US FDA nod for vitamin K drug

** Shares of generic injectables maker Gland Pharma GLAD.NS rise 2% to 1,810 rupees in early trade

** Stock among top gainers on Nifty Pharma index .NIPHARM which is up 0.19%

** Co gets approval from U.S. FDA for phytonadione injectable emulsion, which is used to treat coagulation disorders caused by vitamin K deficiency or interference with vitamin K activity

** Co expects to launch the drug in the near future

** Avg rating on stock is a "hold," among 10 stocks on pharma index with this rating; median PT is 1,800 rupees - LSEG data

** Day's gains erase weekly loss, stock now up 2% this week

(Reporting by Ashna Teresa Britto in Bengaluru)

((AshnaTeresa.Britto@thomsonreuters.com))

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