Alembic Pharma rises on successful inspection at Bioequivalence facility

Gujarat-based pharmaceutical company Alembic Pharma informed the bourses on Wednesday that US Food & Drug Administration (USFDA) has successfully completed inspection at its Bioequivalence facility located at Vadodara.

The inspection was conducted from August 12, 2019 to August 15, 2019 and from August 12, 2019 to August 20, 2019 for Bioequivalence Bioanalytical and Bioequivalence Clinical. At the end of the inspection, there were no 483s issued by USFDA.

Looking at the recently concluded quarter Q1FY20, the revenue grew by nearly 11 per cent yoy to Rs. 896.74 crore. EBITDA for the quarter surged by around 31 per cent yoy to Rs. 224.78 crore, with an expansion of 392 bps in its corresponding margin. EBITDA margin for the period stood at 25.07 per cent. Led by better operating performance, the company’s net profit during the quarter jumped by 36.2 per cent yoy to Rs. 155.22. PAT margin for the quarter stood strong at 17.31 per cent.

The company’s sales breakup stood at exports- 62 per cent and domestic- 38 per cent. Its business segments comprise of IG (international generics) - 45 per cent, branded formulations- 35 per cent and APIs- 20 per cent.

Alembic Pharma is a vertically integrated research and development company. Headquartered in Gujarat, it manufactures and sells generic pharmaceutical products all over the world.

On Wednesday, the stock opened at Rs. 520 and gained nearly 3 per cent. Alembic Pharma made an intraday high of Rs. 525.80 on the BSE. At 13.17, the stock was trading nearly at Rs. 513.2 on the BSE. The stock had hit its 52-week high of Rs. 664 on September 27, 2018 and its 52-week low of Rs. 435.10 on June 21, 2019 on the BSE.