Piramal Healthcare surges on getting European regulator’s nod for BSTCarGel

11 Apr 2012 Evaluate

Piramal Healthcare is currently trading at Rs. 464.00, up by 6.40 points or 1.40% from its previous closing of Rs. 457.60 on the BSE.

The scrip opened at Rs. 459.90 and has touched a high and low of Rs. 470.00 and Rs. 457.50 respectively. So far 28305 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 562.50 on 02-Apr-2012 and a 52 week low of Rs. 340.00 on 30-Nov-2011.

Last one week high and low of the scrip stood at Rs. 470.00 and Rs. 453.00 respectively. The current market cap of the company is Rs. 8006.93 crore.

The promoters holding in the company stood at 53.08% while Institutions and Non-Institutions held 25.97% and 20.95% respectively. 

Piramal Healthcare has received the European CE mark approval for its innovative bio-orthopaedic product for cartilage repair, BSTCarGel. European regulatory approval enables the company to commercialize BST-CarGel in all of the countries in the European Union. Furthermore, this approval will serve as the basis to obtain commercial authorization for the product in other geographic areas of the world such as the Middle East, the Asia Pacific region, South America and other countries including India.

BST-CarGel, a EU class III medical device, is a novel natural polysaccharide based liquid scaffold which, combined with the patient’s whole blood, is then implanted into a debrided cartilage lesion prepared with bone marrow access. As demonstrated in a controlled clinical trial, this procedure results in a superior cartilage repair volume and quality compared to the standard of care treatment with the goal of offering a more durable longer term treatment.

Piramal Healthcare, formerly known as Nicholas Piramal, is one of the largest pharmaceutical companies in India. Being part of Piramal Group, its healthcare division contributes 50% to group’s revenue. Besides healthcare, the Piramal Group has business interests in areas of glass manufacturing, retail and real estate.

Piramal Enterprises Share Price

1112.75 19.10 (1.75%)
23-Dec-2024 11:31 View Price Chart
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