Gufic Biosciences hits 52-week high China nod to anaesthesia API

The share has touched a 52-week high of Rs 245.

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Shares of Gufic Biosciences gained 5 percent to its 52-week high of Rs 245 in the early trade on June 19 after its anesthesia drug API received the green light from China’s National Medical Products Administration (NMPA).

Gufic Biosciences Limited (Gufic) have received approval from National Medical Products Administration (NMPA), China for its product Prilocaine (API) which is an amide-type local anaesthetic of fast onset and intermediate duration of action, according to the company. This approval will help it sell the product in Chinese markets.

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Prilocaine has a clinical profile similar to lidocaine and is used for infiltration, peripheral nerve blocks and spinal and epidural anaesthesia. Also, in combination with lidocaine, it is used for surface anaesthesia.

Prilocaine offers a significantly greater duration and safety margin without a vasopressor. Hence, addition of epinephrine is not necessary to prolong the duration of action, which can be an advantage when epinephrine is contraindicated.

At 9:25am, Gufic Biosciences was quoting at Rs 239.00, up Rs 6.45, or 2.77 percent, on the BSE.