Unichem Lab strikes 52-week high

Unichem Laboratories surged 4.53% to Rs 278.10 at 13:46 IST on BSE, after the company's wholly owned unit Niche Generics received marketing authorization for Anastrozloe tablets for a number of markets within the European Union.
The company made this announcement during trading hours today, Friday 4 December 2009.
Meanwhile, the BSE Sensex was down 36.93 points, or 0.22%, to 17,148.75.
On BSE, 75,778 shares were traded in the counter as against an average daily volume of 17,571 shares in the past one quarter.
The stock hit a high of Rs 288 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 261.40 so far during the day. The stock had hit a 52-week low of Rs 132.15 on 6 March 2009.
The company's equity capital is Rs 18.02 crore. Face value per share is Rs 5.
The current price of Rs 278.10 discounts the company's Q2 September 2009 annualized EPS of Rs 37.68, by a PE multiple of 7.38.
Anastrozole tablet is used for treating breast cancer.
In early November 2009, Unichem Laboratories received approval from the US Food and Drug Administration (US FDA) for its bulk drug facilities at Pithampur, Madhya Pradesh, and Roha, Maharashtra. US Food and Drug Administration has already approved the company's formulation facilities in Goa and Ghaziabad
Unichem Laboratories had in August 2009 received approval from US FDA for Clonidine Hydrochloride tablets in multiple strengths. The drug is used for treating hypertension. The drug is the generic version of Boehringer Ingelheim's Catapres tablets.
Unichem Laboratories' net profit declined 3.1% to Rs 33.97 crore on 0.8% fall in net sales to Rs 173.28 crore in Q2 September 2009 over Q2 September 2008.
Unichem Laboratories is engaged in manufacturing and marketing pharmaceutical formulations, bulk drugs and drug intermediates.