New Delhi, Nov. 26 -- SMS Pharmaceuticals share price surged almost 17% today following the news that the US Food and Drug Administration (USFDA) has granted approval for reformulated Ranitidine tablets from its partner company, VKT Pharma, in both 150mg and 300mg dosages.

Ranitidine tablets are utilized for managing gastroesophageal reflux disease (GERD), peptic ulcers, and other issues related to excess stomach acid.

According to SMS Pharmaceuticals, this approval signifies the return of an important acid-reducing medication to the US market after a gap of five years.

The USFDA's endorsement comes after thorough safety assessments and improvements in manufacturing aimed at mitigating previous concerns regarding NDMA impurity developm...