Neuland Labs Tanks Over 5% As USFDA Rejects Mylan Application


Neuland Laboratories, on Thursday, announced that the food and drug regulator, USFDA has rejected the Mylan application for gAdvair approval. The stock soon after the announcement tanked 5.5% on the NSE in the opening session.

The stock on the NSE hit an intraday high of Rs 1454.05 per share; and an intraday low of Rs 1380.10 per share.

It has delivered over 105% returns in a period of one year, outperforming the BSE Small-cap and BSE Healthcare indices over the same time period.

Neuland Laboratories Limited is engaged in manufacturing active pharmaceutical ingredients (APIs). The Company also provides Custom Manufacturing Solutions (CMS) to develop and manufacture pharmaceutical ingredients and intermediates.

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