JB Chemicals Receives USFDA Approval For Drug That Treats Depression Symptoms

JB Chemicals And Pharmaceuticals Ltd. received approval from the United States Food and Drug Administration for its medication that treats the symptoms of depression, according to an exchange filing from the company.

The USFDA granted the firm approval for its abbreviated new drug application, Amitriptyline Hydrochloride Tablets United States Pharmacopeia. Its various strengths i.e. 10 mg, 25 mg, 50 mg, 75 mg, 100 mg, and 150 mg all conformed to United States Pharmacopeia standards. They are "indicated for relief of symptoms of depression", the filing said.

Meanwhile, Aurobindo Pharma Ltd.'s wholly owned subsidiary, CuraTeQ Biologics also received approval for its biosimilar Dyrupeg from the United Kingdom's Medicines and Healthcare Products Regulatory Agency on Tuesday. Dyrupeg assists cancer patients suffering from neutropenia, a condition characterized by a low white blood cell count.

Shares of JB Chemicals closed 0.18% higher at Rs 1,799.10 apiece on the NSE on Tuesday, compared to a 0.29% rise in the benchmark Nifty. The stock has risen 2.58% in the last 12 months and fallen 2.44% on a year-to-date basis.

Out of 15 analysts tracking the company, 14 have a 'buy' rating on the stock, and one recommends 'hold', according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 11.4%.