Sun Pharma is recalling 54,960 bottles of Mesalamine Extended-Release Capsules, an anti-inflammatory medicine used to treat a type of bowel disease known as ulcerative colitis
The SME IPO of Zenith Drugs will finalize the allotment today. Investors can check the status on the registrar s website. The shares are fetching a GMP of Rs 20. The IPO price band is Rs 75-79. The stock is expected to get listed with a 25% premium on February 27.
Zenith Drugs IPO is an entirely fresh equity issue of 51.4 lakh shares and through the issue, the company aims to raise Rs 40.6 crore. The company is offering its shares at Rs 75-79 apiece, and investors can bid for 1,600 shares in 1 lot.
The patent on Revlimid expires in January 2026 and the three pharma majors, which have seen strong growth on the back of this drug, are looking for other opportunities to keep their growth path. They appear to have aces up their sleeves.
The net proceeds from the public offer will be used for the purchase of machinery and setting up the new plant, existing manufacturing block upgradation, working capital requirements, and general corporate purposes.