Alembic Pharma attains new lifetime high

Vadodara-based pharmaceutical company, Alembic Pharma, today informed the bourses that it has received a tentative USFDA approval for its abbreviated new drug application (ANDA) Rivaroxaban tablets, 10 mg, 15 mg, and 20 mg.

Rivaroxaban tablets are majorly used to prevent blood clots from forming due to a certain irregular heartbeat or after hip or knee replacement surgery.

Including the latest ANDA approval, the company has a total of 124 ANDA approvals, of which, 110 are at the final stage and 14 have been granted tentative approvals by United States Food and Drug Administration (USFDA).

IQVIA, US-based company, which is engaged in serving as the information and database provider of the healthcare industry, stated that Rivaroxaban tablets, 10 mg, 15 mg, and 20 mg has an estimated market size of US$ 6.1 billion for twelve-month ending March 2020.

The revenue mix for FY20 stood at API-15 per cent, branded formulations-31 per cent and generics-54 per cent.

In the last six months, the stock has delivered significant return of 79 per cent on BSE.

Today, the stock of Alembic Pharma gained nearly four per cent as well as a fresh lifetime high of Rs 984 on BSE.