
Mankind Pharma shares rise 2% on robust Q4 results
The newly listed pharma company reported 52% growth in profit at ₹294 crore, while revenue from operations rose 19% to ₹2,053 crore in Q4FY23.
The newly listed pharma company reported 52% growth in profit at ₹294 crore, while revenue from operations rose 19% to ₹2,053 crore in Q4FY23.
The stock has fallen nearly 27% since May 18, 2023, after the pharma company released its fourth-quarter results
The pharma stock, which made its market debut on May 9, has fallen as much as 9% in the last two sessions.
Despite today’s fall, Mankind Pharma shares trade 23.5% higher than its initial public offering (IPO) price of ₹1,080 per share
The portion reserved for QIBs was subscribed over 49 times, while quota for NIIs and retail investors were booked 3.8% times and 0.9 times, respectively.
The pharma company has raised ₹1,297.90 crore by allotting 1.2 crore equity shares at upper end of price band at ₹1,080 per share to 77 anchor investors.
The USFDA has allowed Zydus to manufacture and market Estradiol Transdermal System USP in the U.S; the drug will be produced at the group’s facility in Moraiya, Ahmedabad.
The IPO of the pharma company will open for subscription on April 25 and close on April 27.
India’s life sciences R&D is undergoing a sea change. Given the huge risks and investments involved, can India taste success in innovative medicine, therapy and diagnostic tools?
The U.S. drug regulator has issued Form 483 with ten observations for Lupin’s Pithampur unit-2 manufacturing facility.