Supriya Lifescience Ltd. received approval for its mental illness drug Esketamine Hydrochloride from Brazil's health authority, 'Agência Nacional de Vigilância Sanitária', according to an exchange filing on Monday.
Esketamine Hydrochloride is a vital drug to be used for treating mental illness and is likely to significantly impact the Latin America market, the filing stated.
This approval will enable the company to provide state-of-the-art, high-quality healthcare solutions in a market where demand for novel, reasonably priced drugs is growing, it added.
Supriya Lifescience added that it was the first company to receive approval from Brazil for Esketamine Hydrochloride.
"Our global presence is strengthened by the CADIFA (Brazil's letter of suitability for pharmaceutical products) approval, which also allows us to introduce cutting-edge therapies like Esketamine Hydrochloride in important foreign countries, starting with Brazil," said Satish Wagh, the executive chairman and director of Supriya Lifescience.
Atorvastatin Patent Filing
Supriya Lifescience also informed the exchanges that it has submitted "ground-breaking patent application" for an enhanced, and low-cost method of atorvastatin synthesis. Atorvastatin is a key treatment for controlling cholesterol and preventing cardiovascular disease, the company pointed out.
The drugmaker added that its ground-breaking technique makes medicines more affordable for patients by increasing their efficacy while reducing production costs.
"Our commitment to transforming pharmaceutical manufacturing while maintaining affordability is demonstrated by our invention in the synthesis of atorvastatin," Wagh said.
Shares of Supriya Lifescience closed 1.28% higher at Rs 783.8 apiece on the NSE, compared to a 0.24% increase in the benchmark Nifty 50. The stock has risen by 149% on a year-to-date basis and by 190% over the past 12 months.
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