New Delhi: Shares of Dishman Pharmaceuticals continued to surge for the second trading session and rose by 8.5% on Wednesday, after the company’s partner Tesaro got the US FDA’s approval for an ovarian cancer drug. The stock climbed 8.38% to settle at Rs 301.50 on BSE. Intra-day, it soared 15.56% to Rs 321.50.
At NSE, shares of the company jumped 8.55% to end at Rs 302.55. The stock had surged 20% in the previous session also, adding Rs 1,125.04 crore to Rs 4,866.04 crore in market valuation in two days on BSE.
On the volume front, 25.60 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day on Wednesday.
Meanwhile, in a clarification to BSE the company yesterday said, “We are a Global Contract Research and Manufacturing Services (CRAMS) company specialising in developing and manufacturing Active Pharmaceutical Ingredients for our customers. Currently, we have about thirteen molecules in late phase lll development across various customers. We, as an API supplier, are bound by strict confidentiality agreements with our customers and will not have any prior knowledge of the stage of development of the customer’s end product.”
Since the company does not manufacture the innovator’s end product in CRAMS segment, it is Tesaro lnc, which has received the US FDA (Food and Drug Administration) approval for cancer drug Zejula capsules and not Dishman Pharmaceuticals and Chemicals Limited, as mentioned in the news item, it had said.