Shares in Jubilant Lifesciences surged after the company received an approval from the US FDA for one of its products.

The shares of the company jumped 6 per cent and was last seen trading at Rs 657 on the NSE.

This approved new drug application provides for the use of RUBY-FILL for Positron Emission Tomography (PET) imaging of the myocardium under rest or pharmacologic stress conditions to evaluate regional myocardial perfusion in adult patients with suspected or existing coronary artery disease," the company said in a filing to the BSE.

"The product is expected to be launched in the current quarter (third quarter of financial year 2017) under the company's registered brand name RUBY -FILL for which the current estimated US market size is US$76 mn and has a potential to grow up to US$250mn annually in the next five years," the company said in a release.

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