Alembic Pharma soars 6 per cent after approval from USFDA
The shares of Alembic Pharma ended the trading session 5.65 per cent higher at Rs 610.50.
Alembic Pharmaceuticals has recently informed the exchange that it has received final approval from US Food & Drug Administration (USFDA) for Mesalamine Extended-Release Capsules.
The drug is important in the recovery of ulcerative colitis. It is used to treat certain intestinal diseases and to reduce swelling within the colon. This makes the brand a valued one, with an estimated market size of US$ 133 million for twelve months, ending June 2022 according to IQVIA.
Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company. It manufactures and markets generic pharmaceutical products all over the world. The company's state of the art research and manufacturing facilities are approved by regulatory authorities of many developed countries including the USFDA. Alembic is one of the leaders in branded generics in India.
The company has a market capitalization of approximately Rs 12,000 crore.
The shares of Alembic Pharma ended the trading session 5.65 per cent higher at Rs 610.50.