Unichem Laboratories Ltd today said it has received American health regulator's approval to market Tizanidine tablets, a drug used to relieve muscle pain, in the US market.

Drug firm Unichem Laboratories today said it has received tentative approval from the US health regulator for its Memantine Hydrochloride tablets used for treating dementia due to Alzheimer's disease.

Unichem Laboratories has soared 10% to Rs 167 after it's net profit more than doubled to Rs 33.14 crore for the quarter ended June 30, 2012, on the back of higher sales and other income.

The company had posted a net profit of Rs 25.60 crore in the quarter ended December 31, 2010, Unichem Laboratories said in a statement.

Unichem Laboratories has earmarked Rs 120 crore for capital expenditure plans in the current financial year, including the establishment of a new SEZ formulations plant and an R&D centre.

The company had posted a net profit of Rs 33.89 crore in the same period previous fiscal, Unichem Laboratories said in a filing to the Bombay Stock Exchange (BSE).

Unichem Laboratories today said it has received approval from the US health regulator to market Divalproex Sodium Delayed Release tablets, indicated for seizure disorders, in the American market.

Unichem Laboratories has rallied 7% to Rs 208 after the company said it has received ANDA approval from the United States Food and Drug Administration (USFDA) for Divalproex Sodium Delayed Release Tablets.

Unichem Labs has spurted after being granted a certificate of suitability to European Pharmacopeia (CEP) by European Directorate for the Quality of Mechcines and Healthcare (EDQM) for Alfuzosin Hydrochloride.

Unichem Laboratories Ltd, a leading pharmaceutical company in India, has been granted certificate of suitability to European Pharmacopeia (CEP) by European Directorate for the Quality of Mechcines and Healthcare (EDQM) for Alfuzosin Hydrochloride.

Unichem Labs said on Thursday its board approved splitting its stock to a nominal value of Rs 2 per share from Rs 5 now.

Unichem Laboratories is trading higher by 3% at Rs 481 after the company announced stock split plans.

Total income of the company rose to Rs 173.84 crore during the quarter compared to Rs 146.38 crore during the same period previous fiscal, Unichem Lab said in a statement.