Dishman Pharma rallies 15% despite clarification on Zejula capsules

NEW DELHI: Shares of Dishman Pharmaceuticals rallied over 15 per cent in Wednesday’s trade, even as the drugmaker informed stock exchanges that it was an unlikely to gain from USFDA’s approval on Zejula capsules.

In a filing to BSE, “Since the company does not manufacture the innovator's end product in CRAMS segment, it is Tesaro lnc, which has received the US FDA approval for cancer drug Zejula Capsules and not Dishman Pharmaceuticals and Chemicals,” it said.

The stock gained 15.56 per cent to hit a high of Rs 321.50 on BSE. The stock had hit an upper circuit limit of 20 per cent on Tuesday.

The company added that a sharp spurt on the stock on Tuesday could have been a result of rising hopes that the drugmaker is among the suppliers of the API for Zejula capsules.

The company, meanwhile, added, “We, as an API supplier, are bound by strict confidentiality agreements with our customers and will not have any prior knowledge of the stage of development of the customer's end product.”