Shilpa Medicare shares hiked 3.8% intraday Friday as the company received USFDA (US Food and Drug Administration) approval for the Imatinib Mesylate Tablets, 100mg & 400mg.

The tablets are a generic equivalent of the reference listed drug, Gleevec Tablets used for leukemia treatment as recommended in the label and approved by FDA. As per IQVIA MAT Q2 2018 statistics, The US market for these tablets is approx. $885 million.

The shares touched:

52-week High: INR 605 on January 23, 2018

52-week Low: INR 357.95 on July 23, 2018

At 04:00 PM, 18 January 2019, the share price was quoting INR 399.885 up INR 4.75 or 1.20%.