Alembic Pharmaceutical touches 52-week high, gets fresh USFDA approval

On Tuesday, Alembic Pharmaceutical declared that it has received USFDA approval for its Deferasirox tablets, leading to its shares trading high on BSE.

Deferasirox tablets are indicated in cases when the patient has an overload of iron in the body. These are often prescribed to blood cancer as well as thalacemia patients. According to the company filing on stock exchanges, the drug also has a part in treatment of chronic iron overload in non-transfusion-dependent thalassemia syndromes which is also part of iron overload issue in human body.

On the work front, after final approvals for Deferasirox tablets, 90 mg and 360 mg, have been received by the company, it is now working on getting approval for 180 mg strength as a third category of these drugs.

Including the latest ANDA approval, the company has a total of 122 ANDA approvals, of which 109 are at the final stage and 13 have been granted tentative approvals by US regulator.

The IQVIA, a US-based company, which is engaged in serving as the information and database provider of the healthcare industry, stated that Deferasirox Tablets, 180 mg, has an estimated market size of US$ 53 million (Rs 400 crore approximately).

Post the recent rally, the share price of Alembic Pharmaceuticals has touched a 52-week high of Rs 943 intraday on BSE. On Tuesday, shares were trading at Rs 927.55, higher by 4 per cent.