Alembic Pharmaceuticals on 52-week high

Vadodara-based pharmaceutical company, Alembic Pharma today, informed the bourses that it has received a final USFDA approval for its Abbreviated New Drug Application (ANDA) Azithromycin tablets USP, 250 mg and 500 mg, which is used to treat different types of infections caused by bacteria, such as respiratory, skin, ear and eye infections.

The company has also announced that its JV, Aleor Dermaceuticals has received a final USFDA nod for its ANDA Clobetasol Propionate Cream USP, 0.05 per cent, which is used to treat a variety of skin conditions.

With this, Alembic Pharma has a cumulative total of 118 ANDA approvals (106 final approvals and 12 tentative approvals) from USFDA.

The company has recently come up with the results for the quarter ended December 31, 2019. The 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.

The 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. 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 a new 52-week high of Rs 641.60 on BSE.