Caplin Point Laboratories is on radar after the company received the United States Food and Drug Administration (US FDA) nod for drug - Amidate. This drug is a short acting anesthetic injection.
In an interview to CNBC-TV18, Vivek Siddharth, COO of Caplin Point, said, “This product was filed in July and its fast-tracked by the FDA, this is first time that we are receiving an approval within six months of filing. This product was in shortage and we also realized that it’s used in COVID related hospitalization in the US.”
“It’s difficult to point out the overall market size right now. However, pre-COVID it was $9-10 million. Now potentially it has spiked up more and we hope to launch the product in next three months in the US,” he said.
He said his company is looking at 10 percent market share for most of the products.
On cash front, Siddharth said that the cash flow has increased substantially in the last 7-8 months.
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