Alembic Pharma gains on receiving USFDA approval for Temazepam Capsules

Alembic Pharmaceuticals has collected yet another USFDA approval, now for Temazepam Capsules. The shares of the company gained almost 3 per cent intraday. 

The United States Food and Drug Administration (USFDA) has approved Alembic’s Abbreviated New Drug Application (ANDA), Temazepam Capsules USP 7.5mg, 15mg, 22.5mg and 40mg which is therapeutically equivalent to the reference listed drug product (RLD), Restoril Capsules, 7.5mg, 15mg, 22.5mg and 40mg, of SpecGx LLC. Temazepam Capsules are indicated for short-term treatment of insomnia. 

The IQVIA stats suggest that the Temazepam Capsules USP 7.5mg, 15mg, 22.5mg and 40mg have an estimated market size of US$ 48 million for 12-months ending December 2017. 

Alembic Pharmaceuticals Limited is engaged in developing formulations and active pharmaceutical ingredients (API). The Company focuses on anti-infective, analgesic and, cough and cold therapies. It also focuses on therapies, such as cardiology, diabetes, gynecology, gastrointestinal, orthopedic, dermatology and ophthalmology.  
On Tuesday, the shares of the company opened at Rs. 572 per share as against Monday’s close of Rs 559.95. At 12:12 hours, the shares of the company were trading at Rs. 561,up by 0.39 per cent or by 2.20 points. The intraday high was Rs. 578.70 and intraday low was Rs. 561.75 per share on the BSE. Its 52-week high was Rs. 664 and 52-week low was Rs. 412.40 per share on the BSE. 

Meanwhile, the BSE Sensex was at 35,319.12 level, down by 0.10 per cent and the Nifty50 was at 10,618.15 level, down by 0.09 per cent.