Concord Biotech gains after receiving USFDA approval for Mycophenolate Mofetil

Concord Biotech jumped 3.81% to Rs 1210.60 after the company received an approval from the U.S. Food and Drug Administration (USFDA) for its ANDA, Mycophenolate Mofetil for oral suspension USP, 200 mg/mL.

Mycophenolate mofetil is an antimetabolite immunosuppressant used to prevent organ rejection in adult and pediatric patients aged three months and older who have undergone kidney, heart, or liver transplants, in combination with other immunosuppressants.

According to market estimates, the U.S. market for Mycophenolate Mofetil is approximately US$ 30 million. The approval positions the company to capitalize on these attractive market opportunities, enhance its product offerings, and support its long-term growth strategy across the U.S. and international markets.

Concord Biotech is a R&D driven biopharma company that manufactures Active Pharmaceutical Ingredients (API) through fermentation & semi-synthetic process and finished formulations. It has a presence in more than 70 countries worldwide.

The company?s consolidated net profit declined 36.75% to Rs 88.79 crore on 24.15% drop in revenue frm operations to Rs 326.07 crore in Q4 FY26 over Q4 FY25

Powered by Capital Market - Live News