Share price of one of the leading pharmaceutical companies in women’s health moved up by 4.7 percent on BSE to hit an intraday high at Rs. 349 in the trading session of Friday, after announcing the launch of a pill in the gynaecological segment.
With a market capitalisation of Rs. 903 crore, at 03:05 p.m., the shares of Jagsonpal Pharmaceuticals Limited were trading in the green at Rs. 341.55, up by 2.5 percent.
According to the recent regulatory filings with the stock exchanges, Jagsonpal Pharmaceuticals Limited announced the launch of MemUp.
MemUp is India’s first hormone replacement therapy (HRT) featuring a USFDA-approved combination of bio-identical estradiol and bio-identical progesterone in a single daily oral capsule.
The launch of MemUp marks a significant advancement in women’s healthcare, offering a ground-breaking solution for the management of vasomotor symptoms of menopause like hot flashes, night sweats and sleep issues.
The pill will be made available at retailers across India and can be purchased on the submission of a valid prescription issued by a Registered Medical Practitioner.
Earlier on 16th May, Jagsonpal Pharma signed a Business Transfer Agreement for the purchase of the India & Bhutan business of Yash Pharma Laboratories Private Limited, along with the brands and associated trademarks, with the cost of acquisition of Rs. 92.47 crore.
In terms of financials, the company reported a decline in the revenue from operations by 21.5 percent YoY from Rs. 55.45 crore in Q4 FY22-23 to Rs. 43.5 crore Q4 FY23-24, as well as a fall in the net profit by 36.6 percent from Rs. 5.6 crore to Rs. 3.55 crore, during the same period.
As of March 2024, FIIs hold 0.73 percent of the shares, whereas DIIs hold 0.85 percent of the shares in the company, aggregating to 1.58 percent of the institutional holdings.
The stock has delivered negative returns of 11.74 percent in six months, and 2.7 percent in the last one year. So far in 2024, the company has given 13.6 percent of negative returns.
Founded in 1978, Jagsonpal Pharmaceuticals Limited is a Delhi-based pharmaceutical company, with a robust portfolio of drugs focusing on Gynaecology and Orthopaedic segments.
Written by Shivani Singh
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