Marksans Pharma Ltd shares gained on May 30 following news that its subsidiary Relonchem Ltd secured marketing authorization from the UK Medicines and Healthcare Products Regulatory Agency (UKMHRA) for Metformin Hydrochloride oral solution in the 500 mg/5 ml strength.
Regulatory Milestone for Anti-Diabetic Portfolio
The approval marks an important milestone for Marksans Pharma as it expands its presence in the anti-diabetic therapeutic segment in the UK market. Metformin Hydrochloride oral solution is used in the treatment of type 2 diabetes and represents an essential medication for patients requiring oral liquid dosage forms.
The company announced the regulatory achievement through a stock exchange filing, highlighting the strategic importance of this approval for its UK operations.
Recent Regulatory Successes
This authorization follows a series of recent regulatory approvals for Relonchem. Earlier in May, the subsidiary received marketing authorization from the UK regulator for Sennosides 7.5 mg tablets, a medication used to treat constipation according to the US government's MedlinePlus website.
Also in May, Relonchem secured regulatory approval for Gabapentin Oral Solution, 50 mg/ml, which is prescribed to manage nerve pain and epilepsy.
Global Expansion Strategy
The company's regulatory momentum extends beyond the UK market. In March, Marksans Pharma's manufacturing facility in Verna, Goa, received approval from Australia's Therapeutic Goods Administration (TGA), further expanding the company's regulatory clearances across global markets.
Market Response
Shares of Marksans Pharma gained as much as 1.78% to hit an intraday high of ₹265 apiece on the BSE on May 30. However, the stock pared some of the early gains to trade 0.44% higher at ₹261.5 apiece at 10:12 AM. By 2:10 PM, shares were trading 1.23% higher at ₹263.45 on the NSE.
