Vista Pharmaceuticals share price is locked at 10 percent upper circuit at Rs 36.90 after signing agreement to acquire ANDA for Urocare.
There were pending buy orders of 63,925 shares, with no sellers available, at 10:53 hours IST.
“….. signed a non-disclosure agreement (NDA) to acquire a complex abbreviated new drug application (ANDA) for Urocare,” the Telangana-based pharma company said in its filing.
The US market size for this brand is $1.3 billion (Rs 8,840 crore) as per the latest IMS data.
This ANDA will be manufactured at another USFDA approved Contract Manufacturing Facility (CMO) for 2 years, the company said.
Vista already filed a complex ANDA in September 2017, targeting Cardialgy segment with a market size of $200 million (Rs 1,360 crore) as per latest IMS data. “This product has a limited competition in the market and hence the company is expecting good revenues and profits from this product.”