Alembic arm gets USFDA approval for Glycopyrrolate Tablet

Alembic Pharmaceuticals informed the bourse that its subsidiary Orit Laboratories LLC got USFDA approval for Glycopyrrolate Tablet, on Tuesday.

Glycopyrrolate Tablet has a projected market size of US$15 million, as per IQVIA. The tablet is used to treat peptic ulcers in adults. It is also used to treat chronic, severe drooling caused by certain neurologic disorders in children 3 to 16 years of age.

During the recent quarter Q2FY19, Alembic's International formulations segment grew by 124 per cent, which consists the US (71 per cent) and Non-US (29 per cent).

Alembic Pharmaceuticals has total 81 cumulative ANDA approvals out of which 68 are final and remaining 13 are tentative.

On Tuesday, the stock opened at Rs. 615.50 per share and made an intraday high of Rs. 622 per share on the BSE. At 11:11 hours, the stock was trading at around Rs. 618.55 per share.