Shares of Wanbury Ltd hit the 5% upper circuit on 12 September after the company announced in its exchange filing that they are set to launch two new active pharmaceutical ingredients, including Dextromethorphan and Ketamine. 

In its regulatory filing, the company said that Dextromethorphan is a cough suppressant that is used in many cough and cold medicines, whereas Ketamine is a dissociative anaesthetic that is used medically for induction and maintenance of anaesthesia. 

The company has also announced that they have five API products that are currently in the pipelines, including Montelukast Sodium, Rivaroxaban, Quetiapine Fumarate, Sitagliptin Phosphate Monohydrate, and Imeglimin HCl. 

In its filing, Wanbury added that they have seven commercially available APIs in the market, including antidepressants, anti-diabetic, and anti-inflammatory APIs. 

In its quarterly earnings for April-June, the company reported a sharp decline in net profit to Rs 1 crore for the quarter from Rs 4.7 crore reported in the same quarter. 

Wanbury is focused on the sales and marketing of Active Pharmaceutical Ingredients (APIs) across more than 50 countries, with a notable presence in the Indian formulations market. The company has a diverse portfolio, offering over 13 API products. Among these, Wanbury stands out as the world’s largest producer of Metformin, an essential diabetes treatment, manufacturing over 8,500 tons of it annually. 

At 1:19 pm, the shares of Wanbury were locked 5% higher at Rs 247.90 on NSE.

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