AstraZeneca Pharma Soars 20% on New Drug Launch

New Delhi, June 12, 2015
AstraZeneca Pharma India shares soared 20 per cent to its maximum intraday limit on Thursday after the company said that it has launched a new drug for treatment of type 2 diabetes mellitus.

In a statement issued to exchanges, AstraZeneca Pharma said that it has launched “Forxiga, a breakthrough treatment for type 2 diabetes mellitus.”

The company said Forxiga is a “highly selective inhibitor of sodium-glucose contransporter 2. It has an unique insulin independent mode of action that help remove excess glucose from the body via urine, which is associated with reduction of glycated haemoglobin, weight and systolic blood sugar.”

The biopharmaceutical company said Forxiga is globally the first medicine in the sodium-glucose contransporter 2 inhibitor class to gain regulatory approval for the treatment of type 2 diabetes mellitus.

Shares in AstraZeneca Pharma ended with 20 per cent gains, at Rs 1,147.70 on the Bombay Stock Exchange. PTI