Dishman Pharma hits 52-week high as drug maker gets licence to manufacture TB medicine

NEW DELHI: Dishman Pharmaceuticals and Chemicals surged 16.22 per cent to close at 306.95. The stock closed at a fresh 52-week high on Wednesday after the company got a licence from Janssen Pharmaceutica, a subsidiary of Johnson & Johnson, to produce active pharmaceutical ingredient (API) of Sirturo, a medicine used in the treatment of multi-drug resistant (MDR) tuberculosis.

The stock has jumped nearly 181 per cent from its 52-week low of Rs 102.80, it hit on December 17, 2014.

In 2008, the Johnson & Johnson subsidiary had contracted Dishman to conduct full chemical synthesis of the API at its manufacturing facility ion Bavla, India. Janssen subsequently registered the domestic pharma company as the manufacturer of the API with the USFDA, European medecines Agencies and some Asian drug regulatory authorities.

“Recently, Dishman started supplying Janssen with the global demand of this APLI,” the drugmaker said in a filing to BSE. In January this year, Sirturo secured approval from the Drugs Controller General of India for use, which provided access to bedaquiline under revised national TB control programme.