Alembic Pharma gains on EIR for JV firm

Aleor Dermaceuticals, a 60:40 JV between Alembic Pharmaceuticals and Orbicular Pharmaceutical Technologies has received Establishment Inspection Report (EIR) from the USFDA.

This is for the inspection carried out by them at Aleor Dermaceuticals’ formulation facility at Karakhadi, Gujarat during the period from February 4, 2019 to February 8, 2019.

Alembic Pharma has a cumulative total of 90 ANDA approvals, of which 78 have final approvals and 12 have tentative approvals from the USFDA.

During the recent quarter Q3FY19, Alembic's International formulations grew by 44 per cent and consisted of US (69 per cent) and Non-US (31 per cent).

Alembic Pharmaceuticals is an Indian multinational pharmaceutical company and is involved in the manufacture of pharmaceutical products, pharmaceutical substances and intermediates.

On Monday, the stock of Alembic Pharmaceuticals opened at Rs. 547.85 per share and jumped by 3 per cent. The stock made an intraday high of Rs. 560.30 per share. At 13:12, the stock was trading nearly at Rs. 552 on the BSE.