Here’s Why This Small-Cap Pharmaceutical Stock Has Rallied Almost 14% on Friday

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Here’s Why This Small-Cap Pharmaceutical Stock Has Rallied Almost 14% on Friday
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Shares of the domestic pharmaceutical company Unichem Laboratories Ltd. (NS: UNLB ) have zoomed 13.9% to Rs 254.8 apiece at 11:04 am on Friday, after the company’s announcement on receiving the ANDA approval from the US drug regulator to market a generic version of Abilify Tablets.

The Mumbai-based drugmaker received an abbreviated new drug application approval for its Aripiprazole Tablets USP, 2 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg from the US Food and Drug Administration (USFDA) to market a generic version of Abilify Tablets, 2 mg, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg, of Otsuka Pharmaceutical Company, Ltd., stated the company in a filing.

Unichem Laboratories’ Aripiraprazole tablets are prescribed for schizophrenia and irritability, associated with autistic disorder.

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