Alembic Pharmaceuticals rises over 3 per cent on receiving USFDA nod for Treprostinil injection

Alembic Pharmaceuticals today announced that its wholly-owned subsidiary, Alembic Global Holding SA has received final approval from United States Food & Drug Administration (USFDA) for Treprostinil injection. 

Treprostinil injection is prescribed for the treatment of pulmonary arterial hypertension to diminish symptoms associated with exercise. 

Reacting to this, the company’s stock today increased by 2.40 per cent and made an intraday high of Rs 957 per share at around 12.57 pm. 

Besides, the company reported a net profit of Rs 259.20 crore in Q3FY21, an increase of 13.84 per cent. It had reported a profit of Rs 227.68 crore in Q3FY20. The company reported net sales of Rs 1,314.33 crore for Q3FY21, an increase of 8.7 per cent as against the net sales of Rs 1,209.13 crore for Q3FY20. 

The company now has a total of 138 ANDA approvals, out of which, 121 are final approvals while 17 are tentative approvals from USFDA, including this first injectable ANDA approval. 

According to BSE data, the stock traded at a P/E multiple of 14.60 and a price-to-book ratio of 3.88. The stock has a 52-week high and a 52-week low of Rs 1,150 and Rs 436.10, respectively. 

At 2.28 pm on Friday, the stock of Alembic Pharmaceuticals Ltd was trading at Rs 966.00, up by 3.36 per cent on BSE.