Transgene Biotek gets nod for manufacturing four Nwe drugs.

Transgene Biotek was locked at 5% at Rs 20.35 at 13:33 IST on BSE,on 2nd Jan'09,Friday on receiving regulatory nod for manufacturing four drugs.



The company made this announcement during trading hours today, 2 January 2009.
Meanwhile, the BSE Sensex was up 82.26 points, or 0.83%, to 9,985.72.
On BSE, 1,250 shares were traded in the counter. The stock had an average daily volume of 11,638 shares in the past one quarter.
The stock hit a high of Rs 20.35 and a low of Rs 20.35 so far during the day. The stock hit a 52-week high of Rs 115.60 on 8 January 2008 and a 52-week low of Rs 14.55 on 3 November 2008.
The company's current equity is Rs 15.77 crore. Face value per share is Rs 10.
The current price of Rs 20.35 discounts the company's Q2 September 2008 annualized EPS of Rs 0.24, by a PE multiple of 84.79.
The company has received manufacturing license from Drug Control Department of Hyderabad for manufacturing four drugs Orlistat, Lovastatin, Simvastatin and Pravastatin. These drugs are used to control cholesterol in blood.
Transgene Biotek's net profit fell 75% to Rs 0.09 crore on 2.3% increase in net sales to Rs 0.89 crore in Q2 September 2008 over Q2 September 2007.
The company is engaged in the research and development and manufacture of various medical reagents, both chemical and immuno-diagnostic reagents for the qualitative and quantitative estimation of bio-chemical parameters and diagnosis of diseases.