Shares of Unichem Laboratories Ltd hit a 52-week high of Rs 479 on 11 January after the company announced receiving USFDA (United States Food and Drug Administration) approval for hypertension drugs.

In its regulatory filing, the company said, “Unichem has received ANDA approval for its Doxazosin Tablets USP, 1 mg, 2 mg, 4 mg and 8 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Cardura (Doxazosin) Tablets, 1 mg, 2 mg, 4 mg and 8 mg, of Viatris Specialty, LLC.”

The drug is used for the treatment of hypertension to lower blood pressure and will be manufactured at the company’s Goa plant.

In December, the company again offloaded its stake in Optimus Drugs to Sekhmet Pharmaventures for Rs 67.47 crore in a second trance of divestment in the pharmaceutical company.

In May 2022, the company had previously divested a 19.97% stake in Optimus Drugs to Sekhmet Pharmaventures.

The company has several pharma products in therapeutic areas like diabetology, psychiatry, neurology, gastroenterology, cardiology, anti-bacterial, anti-infectives and pain management.

At 3:00 pm, the shares of Unichem Laboratories were trading 5.11% higher at Rs 469.10 on NSE.