Dabur Pharma spurts on injection approval

Dabur Pharma gained 4.88% to Rs 55.90 at 15:47 IST on BSE after the company received approval to sell the Irinotecan Hydrochloride injection in Italy and Denmark.

The company made this announcement during trading hours today, 11 March 2008.

Meanwhile, BSE Sensex was up 213.53 points or 1.34% to 16,137.25.

On BSE, 38,323 shares were traded in the counter. The scrip had an average daily volume of 1.30 lakh shares in the past one quarter.

The stock hit a high of Rs 58 and a low of Rs 53.50 so far during the day. The stock had a 52-week high of Rs 92.40 on 7 January 2008 and a 52-week low of Rs 52 on 10 March 2007.

The company’s current equity is Rs 15.67 crore. Face value per share is Rs 1.

The current price of Rs 55.90 discounts Q3 December 2007 annualized EPS of Rs 2.11 by a PE multiple of 26.49.

Irinotecan Hydrochloride injection is the generic version of Pfizer's Camptosar.

Recently, the company had successfully launched the generic version of the drug in the US recently, being amongst the first of a handful of companies to do so. It also has approval for the drug in the UK.

Dabur Pharma’s net profit declined 7.5% to Rs 8.26 crore on 15.2% fall in net sales to Rs 65.01 crore in Q3 December 2007 over Q3 December 2006.

Dabur Pharma is the market leader in the oncology segment in India and various major Asian markets such as Malaysia and Thailand where the company is pitted against global pharma majors