The company received the approval for Succinylcholine Chloride Injection USP, a muscle relaxant that is also being used for some COVID-19 patients.
Indoco Remedies share price rose nearly 5 percent intraday on May 26 after the pharma company received the US drug regulator’s approval for Succinylcholine Chloride Injection USP, a muscle relaxant also being used for some COVID-19 patients.
The company received approval for its ANDA for Succinylcholine Chloride Injection USP 200 mg/10 ml (20 mg/ml) multi‐dose vial, therapeutically equivalent to the Reference Listed Drug (RLD) Quelicin Injection of Hospira, Inc.
Succinylcholine Chloride injection is indicated as an adjunct to general anesthesia to facilitate tracheal intubation and to provide skeletal muscle relaxation during surgery or mechanical ventilation, the company said.
It is being used for some patients infected with COVID‐19, the respiratory illness caused by the coronavirus.
According to IMS data, the US market size of Succinylcholine Chloride Injection is of 72 million USD (6 million vials) for the year ending March, 2020.
“The receipt of this USFDA approval, in a record time of just four months from the date of filing ANDA, is very encouraging. It brings an enormous opportunity to Indoco to serve the patients in these trying times,” said Aditi Kare Panandikar, Managing Director, of Remedies.
At 1225 hours, Indoco Remedies was quoting at Rs 213.05, up Rs 3.20, or 1.52 percent. on the BSE.