Shares of Concord Biotech rose by 8.46% after the company received U.S. FDA approval for its Mycophenolate Mofetil Oral Suspension, a medication used to prevent organ rejection in transplant patients. This approval is part of Concord’s growth strategy and opens up a significant market opportunity in the U.S., valued at about $30 million. Despite the recent stock rally, shares are still below their 52-week high of Rs 2,150. The company’s market capitalization stands at approximately Rs 12,200 crore, with mixed institutional investor activity noted.
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Link to original article source: https://m.economictimes.com/markets/stocks/news/concord-biotech-jumps-8-on-usfda-nod-for-mycophenolate-mofetil-oral-suspension/articleshow/131476379.cms
