Alembic rises as JV company clears USFDA inspection

Aleor Dermaceuticals Ltd, a joint venture between Alembic Pharmaceuticals and Orbicular Pharmaceutical Technologies has cleared its first USFDA inspection.

Aleor has successfully cleared its first United States Food and Drug Administration (USFDA) inspection of its new formulation manufacturing facility located at Karakhadi in Gujarat. The US drug regulator cited no observation post the inspection which was carried out between October 15 – 19 October, 2018.

Aleor is a 60:40 joint venture between Alembic Pharmaceuticals Ltd. (Alembic) and Orbicular Pharmaceutical Technologies Pvt. Ltd. (Orbicular) formed in April 2016. The company is engaged in the development, manufacture and commercialisation of dermatology products for worldwide markets.

Alembic Pharmaceuticals Limited, a vertically integrated research and development pharmaceutical company. The company is engaged 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, gynaecology, gastrointestinal, orthopaedic, dermatology and ophthalmology.

On Monday, the shares of Alembic Pharmaceuticals opened slightly higher at Rs 619.35 per share against Friday’s close of 608.10 per share on the BSE. At 10:33 am, the shares were trading at Rs. 615, up by 1.13 per cent. Its intraday high was Rs. 621 and intraday low was Rs. 609 per share. Meanwhile, the BSE Sensex was at 34,403.35 level, up by 0.26 per cent or 100.45 points.