Pharma majors, Alkem Labs and Biocon jumped over 3% on Wednesday, after getting approval from US FDA. The US drug regulator approved the Exemestane tablets of Mylan, which is a partner of Biocon. These tablets are used to treat breast cancer.
Whereas, the regulator gave a nod for Lidocaine ointment of Alkem Labs, which is used to treat ventricular tachycardia.
Alkem Labs in the past one month is up by over 5%, and it has touched an intraday high of Rs 1998.25 per share; while Biocon is up nearly 4% over the past one month, and hit an intraday high of Rs 1124.90 per share. Biocon has delivered 134% returns; and Alkem Labs has delivered 44% returns in a period of one year.