Alembic Pharma gets USFDA nod for Azithromycin tablets

Alembic Pharmaceuticals today informed the bourses that it has received a final USFDA approval for its Abbreviated New Drug Application (ANDA) Azithromycin tablets USP, 600 mg.

Azithromycin tablets are used to treat different types of infections caused by bacteria, such as respiratory, skin, ear and eye infections.

Alembic has a cumulative total of 115 ANDA approvals (103 final approvals and 12 tentative approvals) from USFDA.

The company has recently come up with the results for the quarter ended December 31, 2019. Consolidated revenue for the quarter Q3FY20 came in at Rs 1,209.13 crore as against Rs 1,018.15 crore in the corresponding quarter last year, registering 18.8 per cent YoY increase. EBITDA for the quarter grew by 34.2 per cent YoY to Rs 325.05 crore as against Rs 242.23 crore in the corresponding quarter last year, with a corresponding margin expansion of 309 bps. EBITDA margin for the quarter stood at 26.9 per cent. PAT for the quarter came in at Rs 227.68 crore, as against Rs 170.75 crore in the corresponding quarter last year, with YoY increase of 33.3 per cent.

Revenue mix for Q3FY20 stood at API- 15 per cent, Branded formulations- 30 per cent and Generics- 55 per cent. International formulations business grew 48 per cent YoY to Rs 664 crore. The India formulations business came in at Rs 368 crore for the quarter as against Rs 365 crore last year. The company has received eight ANDA approvals during the quarter.

Today, the stock jumped nearly 2 per cent and made an intraday high of Rs 630 on BSE.