Concord Biotech shares jump over 8% after US FDA approves latest Mycophenolate Mofetil drug

Concord Biotech share price jumped more than 8% to hit its intraday high in the early trade on Wednesday, June 3, after the pharmaceutical company received approval from the US Food and Drug Administration (FDA) for its latest Mycophenolate Mofetil drug.

Shares of Concord Biotech surged 8.4% to hit the day's high of ₹1,264.90 after the stock market opened on Wednesday, compared to ₹1,166.20 at the previous market close, according to NSE data.

As per the NSE filing, Concord Biotech’s new Mycophenolate Mofetil drug is an antimetabolite immunosuppressant (an immune-suppressing medication), which aims to be used to treat organ rejection in adult and pediatric patients of three months of age and older of allogeneic kidney, heart or liver transplants, in combination with other similar drugs.

“We are pleased to inform that the Company has received approval from the U.S. Food and Drug Administration (USFDA) for its ANDA for Mycophenolate Mofetil for Oral Suspension USP, 200 mg/ml,” the company informed the stock exchanges.

How big is Mycophenolate Mofetil market?

In the United States, the Mycophenolate Mofetil market is estimated to be around $30 million, as per the market estimates cited by Concord Biotech in its official filing.

The US FDA’s approval now gives Concord Biotech the opportunity to capitalise on its product in the $30 million market in America as the company aims for a long-term strategy in its global markets, including the United States.

“The approval positions the Company to capitalise on these attractive market opportunities, enhance its product offerings, and support its long-term growth strategy across the U.S. and international markets,” said the company in the exchange filing.

The company also estimated that with this new product approval, it will strengthen the brand’s position in the US market, in line with Concord Biotech’s growth strategy.

Concord Biotech share price trend

Concord Biotech shares closed 9.88% higher at ₹1,166.20 after Tuesday’s trading session, compared to ₹1,061.30 at the previous stock market close, according to NSE data. The company announced the US FDA approval update after the market operating hours on Tuesday, June 2.

Shares of Concord Biotech have lost 35% in the last one year period, and are down 11.7% year-to-date in 2026. However, the exchange data also showed that the stock has gained 3.3% in the past one month, and was trading 7.3% higher in the last five trading sessions.

Concord Biotech shares hit their 52-week high of ₹2,150.40 on June 11, 2025, while the 52-week low was at ₹987 on April 2, 2026.

NSE data showed that the pharma stock’s market capitalisation (m-cap) was at ₹12,344 crore as of the trading close on June 2.