Alembic Pharma gains on successful USFDA inspection of manufacturing unit

Pharmaceutical major Alembic Pharma surged by over 5 per cent in Tuesday’s trade session on the back of successful USFDA inspection of its Panelav facility. The inspection by the United States Food and Drug Association concluded with zero Form 483s observations.

Recently, the company also received USFDA approval for its abbreviated New Drug Application Acyclovir ointment USP, 5 per cent. Acyclovir ointment is used in the management of initial genital herpes and in limited non-life-threatening mucocutaneous Herpes simplex virus infections in immunocompromised patients.

In Tuesday’s trade, the stock hit an intraday high of Rs. 529.30 per share and an intraday low of Rs. 512 per share on BSE. The stock also witnessed a spurt in volume by more than 2.97 times on Tuesday against its average volume.

The stock had touched its 52-week high of Rs. 630 per share on April 27, 2017 and its 52-week low of Rs. 469.75 per share on September 20, 2017 on BSE, respectively. On Tuesday, the stock ended at Rs. 520 per share, higher by 3.18 per cent on BSE.

Meanwhile, S&P BSE Sensex closed at 34,616.64 level, higher by 0.48 per cent and NSE Nifty50 was trading at 10,614.35 level, higher by 0.28 per cent.