Shares of Caplin Point Laboratories Ltd. dropped 7% after touching a day’s high of Rs 1,611.80 on 8th August, despite the company’s subsidiary receiving final approval from the USFDA for Timolol Maleate Ophthalmic Solution eye drops.

According to Caplin Point Laboratories, the authorised ANDA is a replica of Bausch and Lomb’s TIMOPTIC.

Timolol Maleate Ophthalmic Solution USP, 0.5%, is an eye drop indicated for treating elevated intraocular pressure in patients with ocular hypertension or open-angle glaucoma.

IQVIA (IMS Health) data shows that Timolol Maleate Ophthalmic Solution USP, 0.5%, achieved sales of approximately $45 million in the U.S. for the 12 months ending June 2024.

Consolidated net profit for the quarter ended 30th June, 2024, jumped by 19.8% year over year to Rs 124.92 crore from Rs 104.23 crore in the same quarter last year.

Revenue from operations grew 16.1% YoY to Rs 458.96 crore, and gross profit surged 25.1% YoY to Rs 273.48 crore for the quarter.

The company’s EBITDA rose 23% to Rs 170.37 crore in Q1 FY25, up from Rs 138.57 crore in the same quarter last year. The EBITDA margin improved to 35.7% from 34% in the previous year.

Basic EPS increased by 19.8% to Rs 16.32 in Q1 FY25, compared to Rs 13.62 in Q1 FY24, and free cash flow rose to Rs 59 crore from Rs 37 crore in the same period last year.

At 3:30 PM, the shares of Caplin Point Labs closed 6.24% lower at Rs 1,481.15 on BSE.

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