Gufic Biosciences gains 14 percent on improved business outlook
Published On: Tuesday, April 12, 2022 | By: Team KnowMyStock
Shares of Gufic Biosciences jumped over 14 percent on Tuesday and hit a 52-week high of Rs 283.50 after the company received permission to manufacture and sell a drug formulation. Gufic Biosciences Limited has received permission for the sale and distribution of Isavuconazonium Sulfate API and finished formulation Isavuconazole for Injection 200 mg/vial from the Central Licensing Approving Authority, Central Drugs Standard Control Organisation (CDSCO), Ministry of Health and Family Welfare for manufacture. Isavuconazole is indicated for the treatment of patients 18 years of age and older for the treatment of Invasive Aspergillosis and Invasive Mucormycosis.Isavuconazole is a systemic antifungal drug of triazole class. Meanwhile, rating agency CRISIL Ratings has revised the company's outlook on the long-term bank facilities of Gufic to 'Positive' from 'Stable', while reaffirming the rating at 'CRISIL BBB+' and has assigned its 'CRISIL A2' rating to the short-term bank facility.
Gufic Biosciences is engaged in the research and development, manufacturing, marketing, distribution and sale of pharmaceutical and allied products. The company is known and respected for innovative and high-quality pharmaceutical and herbal products along with a wide range of Active Pharmaceutical Ingredients.
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