Laurus Labs gets USFDA nod for diabetes drug

Drug firm Laurus Labs today said it has received approval from the US health regulator for its Metformin hydrochloride tablets used for the treatment of diabetes.

The company has received approval from the United States Food and Drug Administration (USFDA) for Metformin hydrochloride tablets USP in the strengths of 500 mg, 850 mg, and 1,000 mg, Laurus Labs said in a BSE filing.

The tablets are generic versions of Bristol-Myers Squibb Company's Glucophage tablets in the same strengths, it added.

The product and API will be commercialized from company's Unit 2 located at Atchutapuram, Visakhapatnam in Andhra Pradesh, Laurus Labs said.

Shares of Laurus Labs today closed at Rs 438.70 per scrip on BSE, down 0.44 percent from its previous close.

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