Claris Life on the rise

Claris Lifesciences is buzzing loud and clear today morning. The stock, which has closed yesterday at Rs.154.95, opened higher at Rs.163.45, its intra day high point. But since then it has started coming off and it now trades at Rs. 156.60, up 1%. Volumes are high at 98,000 shares traded in the morning compared to 35,000 shares over past two weeks.

The stock spiked up on opening on news that it has received the US FDA approval for an abbreviated new drug application for an anti-infective drug.  Given intravenous, it is given to adults suffering from infections such as pneumonia, acute bacterial sinusitis or complicated urinary tract injections etc.

The company now has 11 abbreviated new drug applications (ANDA) approved by the US FDA and a total filing of 32 ANDAs.