Concord Biotech gets ANDA nod for Mycophenolate Mofetil for Oral Suspension USP

Concord Biotech received approval from the US Food and Drug Administration (USFDA) for its ANDA for Mycophenolate Mofetil for Oral Suspension USP, 200 mg/mL. Mycophenolate mofetil is an antimetabolite immunosuppressant indicated for the prophylaxis of organ rejection in adult and pediatric recipients 3 months of age and older of allogeneic kidney, heart or liver transplants, in combination with other immunosuppressants.

According to market estimates, the US market for Mycophenolate Mofetil is approximately US$ 30 million. The approval positions the Company to capitalize on these attractive market opportunities, enhance its product offerings, and support its long-term growth strategy across the US and international markets.

At 11.28 am, Concord Biotech Ltd was trading at Rs. 1,252.05, up by 7.31%, with a volume of 2.11 lakh shares on the BSE.