Marksans Pharma Ltd shares gained on Tuesday after its wholly owned UK subsidiary, Relonchem Ltd, secured Marketing Authorisation from the Medicines and Healthcare Products Regulatory Agency (MHRA) for Baclofen 10 mg Tablets.The medication is used to relax certain muscles in the body, alleviating spasms, cramping, and tightness caused by multiple sclerosis or spinal injuries.
“Marksans Pharma hereby announces that its wholly owned subsidiary Relonchem Limited has received Marketing Authorisation for the product Baclofen 10 mg Tablets from UK MHRA,” the company said in an exchange filing on March 19.
Headquartered in Mumbai, Marksans Pharma is engaged in the research, manufacturing, and marketing of generic pharmaceutical formulations across global markets. The company operates manufacturing facilities in India, the USA, and the UK, all of which are approved by major regulatory agencies, including the USFDA, UK MHRA, and Australian TGA.This latest approval follows a similar development in February, when Relonchem Ltd received UK MHRA authorisation for Ibuprofen and Paracetamol 200 mg/500 mg Film-coated Tablets, commonly used for fever relief and pain management.
“Marksans Pharma hereby announces that its wholly owned subsidiary Relonchem Limited has received Marketing Authorisation for the product Baclofen 10 mg Tablets from UK MHRA,” the company said in an exchange filing on March 19.
Headquartered in Mumbai, Marksans Pharma is engaged in the research, manufacturing, and marketing of generic pharmaceutical formulations across global markets. The company operates manufacturing facilities in India, the USA, and the UK, all of which are approved by major regulatory agencies, including the USFDA, UK MHRA, and Australian TGA.This latest approval follows a similar development in February, when Relonchem Ltd received UK MHRA authorisation for Ibuprofen and Paracetamol 200 mg/500 mg Film-coated Tablets, commonly used for fever relief and pain management.
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Shares of Marksans Pharma were trading higher in the afternoon session on Tuesday, up 2.14% at ₹207.2 per piece on the BSE at 02:02 pm, after touching an intraday high of ₹208.7, a 2.9% rise.
Despite gaining 5% in the past week, the stock has struggled this year so far, losing over 30% year-to-date (YTD). However, over the past year, Marksans Pharma has delivered strong returns of nearly 50% to its shareholders.
(Edited by : Sheersh Kapoor)
