Supreme Court rules on Saridon, then company shares surge

In a major decision, the Supreme Court has ruled in favour of headache drug Saridon and ruled on exempting it formulation from the list of banned fixed dose combination (FDCs) drugs.

The company Piramal Enterprises has said it in a regulatory filing posted on the website of Bombay Stock Exchange.

It is this disclosure that shares of Piramal Enterprises also surged as much as 1.62 per cent to touch intraday high of Rs. 2,231.80.

In September 2018, Piramal Enterprises had been awarded a stay order from the Supreme Court on the ban, which allowed it to continue manufacturing, distribution and sale of the FDC.

Saridon, amongst the most trusted heritage analgesic brands in India, enjoys strong customer allegiance globally, the company added in the filing.

Back to top button