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Senores Pharma eyes US injectables mkt
Mint Hyderabad
|January 14, 2025
Newly-listed Senores Pharmaceuticals aims to set up a new facility in the US to make injectables, and eyes a larger pie of government contracts and controlled substance orders through partnerships with larger drugmakers in the country, a top company official said.
The Ahmedabad-based company, which has a presence in regulated markets like the US, the UK and Canada, as well as in emerging markets, has generics formulations as well as contract manufacturing and development businesses.
On 30 December, Senores Pharma's shares listed on the National Stock Exchange at ₹600, a premium of more than 53% over the issue price of ₹391. Its initial public offering closed on 24 December, after getting subscribed a massive 93.41 times. The IPO included a fresh issue of ₹500 crore and an offer for sale of ₹82.1 crore.
The company's stock fell nearly 13% to end at ₹439 on the NSE on Monday.
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