Shares of Shilpa Medicare Limited surged 4.22% on Tuesday, September 23, trading at ₹853.00 on the NSE. The company’s market capitalization stood at ₹83.42 billion. The rally came after the pharma company announced that it has received initial authorization from the European Medicines Agency (EMA) for its Rivaroxaban Orodispersible Films, a generic version of Bayer AG’s Xarelto®.
The product is designed for patient comfort, particularly for geriatric patients, and is bioequivalent to the reference drug. Rivaroxaban is prescribed for the treatment and prevention of various thrombotic conditions.
Shilpa Medicare highlighted that this marks its third approval for a prescription oral mouth-dissolving film product from its Bengaluru facility. The company said the authorization further strengthens its foothold in the European market, where the oral Rivaroxaban formulations market is valued at around USD 2.5 billion.
The development is seen as a significant milestone for Shilpa Medicare’s specialty generics portfolio, positioning it to expand its presence in high-value regulated markets.
