New Delhi, Jan 30 (PTI) Bajaj Healthcare on Thursday said it has received approval from the Drug Controller General of India (DCGI) to manufacture a drug for the treatment of hallucinations and delusions associated with Parkinson's disease.

The company has received approval to produce both the API and drug formulation of Pimavanserin, a 34 mg capsule.

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It is an atypical antipsychotic used for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

Pimavanserin, marketed globally as Nuplazid, has become a preferred treatment in the US antipsychotic segment.

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In a recent update, Acadia Pharmaceuticals announced that Nuplazid, along with its other brand Daybue, is projected to generate more than USD 1 billion in net sales in 2025.

"The growing success of Nuplazid in the US underscores the global demand for this innovative therapy, and we are confident that its introduction in India will be a transformative advancement in the antipsychotic segment," Bajaj Healthcare Managing Director Anil Jain said.

The company said it has also extended offer for Pimavanserin to several leading Indian pharmaceutical companies, ensuring the product's availability in the domestic market.

Shares of the company were trading 2.89 per cent down at Rs 637.40 apiece on BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)