BOM:543960

Brazilian Regulator Completes Inspection of Concord Biotech's Limbasi Facility

Concord Biotech (NSE:CONCORDBIO, BOM:543960) completed a four-day regulatory inspection for its Limbasi manufacturing facility in India.The Brazilian Health Regulatory Agency's ANVISA inspection confirmed the company's quality and regulatory standards and supports its international expansion plans, according to a Friday filing from the biopharmaceutical company.

Concord Biotech Gets US FDA Nod for Arthritis Treatment Drug; Shares Up 4%

Concord Biotech (NSE:CONCORDBIO, BOM:543960) has received approval from the US Food and Drug Administration (US FDA) for its Tofacitinib Tablets in strengths of 5 mg and 10 mg, according to a Wednesday filing to the Indian stock exchanges.Tofacitinib tablets are used to treat adult patients with active rheumatoid arthritis, active psoriatic arthritis, active ankylosing spondylitis, ulcerative colitis, and polyarticular course juvenile idiopathic arthritis.The statement quoted market estimates to show that the US market for Tofacitinib Tablets of both strengths combined is around $500 million.The company's shares were up nearly 4% in recent trade.

Choice Equity Downgrades Concord Biotech to Reduce from Add; Price Target is INR1,045

Jefferies Adjusts Concord Biotech's Price Target to INR1,020 From INR1,170, Keeps at Hold