Alembic Pharma zooms as JV completes USFDA inspection

Gujarat-based pharmaceutical company Alembic Pharma on Monday informed the bourses about the completion of USFDA inspection at Aleor Dermaceuticals Limited.

Aleor Dermaceuticals has completed United States Food and Drug Administration (USFDA) inspection at its formulation manufacturing facility located at Karakhadi, Gujarat, India with one observation.

The inspection was carried out from 15th September, 2019 to 20th September, 2019.

Gujarat based Aleor Dermaceuticals is 60:40 Joint Venture (JV) between Alembic Pharmaceuticals and Orbicular Pharmaceutical Technologies Pvt. Ltd. to develop and commerialise dermatology products for global market.

Alembic Pharma is engaged in developing formulations and active pharmaceutical ingredients (APIs). The company focuses on anti-infective, analgesic and cough and cold therapies. It also focuses on therapies such as cardiology, diabetes, gynaecology, gastrointestinal, orthopaedic, dermatology and ophthalmology.

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.

On Monday, the stock opened at Rs. 510.90 in BSE against previous close of Rs. 517.75. The stock gained nearly 10 per cent and made an intraday high of Rs. 567.55. It hit an intraday low of Rs. 510.05. At 13:35, the stock was trading at Rs. 535.00, up by 3.33 per cent on BSE.