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Alembic Pharma share price gains 5% after USFDA okays seizures drug
Source: Business Standard
Alembic Pharma share price: Pharmaceutical company Alembic Pharmaceuticals share rose up 4.60 per cent to hit an intraday high of Rs 1,245.25 per share on Thursday, October 03, 2024.
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Lamotrigine extended-release tablets are indicated for adjunctive therapy for primary generalised tonic-clonic seizures and partial-onset seizures with or without secondary generalisation in patients aged 13 years and older. Also indicated for conversion to monotherapy in patients aged 13 years and older with partial-onset seizures who are receiving treatment with a single antiepileptic drug. Refer label for a detailed indication.
In an exchange filing, Alembic Pharma said, “This is to inform the exchange that the company has received US Food & Drug Administration (USFDA) Final Approval for Lamotrigine ExtendedRelease Tablets USP, 200 mg, 250 mg, and 300 mg.”
Lamotrigine Extended-Release Tablets USP, 200 mg, 250 mg, and 300 mg have an estimated market size of US$ 163 million for twelve months ending June 2024 according to IQVIA.
Alembic Pharma performance
Alembic Pharmaceuticals’ consolidated net profit increased 12 per cent year-on-year (Y-o-Y) to Rs 135 crore in the June quarter of FY25, as against a net profit of Rs 121 crore in the June quarter of FY24.
The company’s total income rose to Rs 1,564 crore in Q1FY25, from Rs 1,498 crore in Q1FY24.
Alembic Pharma share price history
Alembic Pharma share has jumped about 61 per cent this year-to-date (Y-T-D) while the scrip has rallied over 23 per cent in the past six months.
Meanwhile, in the past 5 days, the stock has zoomed over 5 per cent while it has surged about 15 per cent in the past month.
Alembic Pharma background
Alembic Pharma Limited is a pharmaceutical company headquartered in Vadodara, Gujarat. The company manufactures and markets a diverse range of products, including formulations for the Indian market produced in Sikkim, international generics made in Gujarat, and active pharmaceutical ingredients (APIs) also manufactured in Gujarat.
Alembic is dedicated to improving access to healthcare innovations and collaborates with some of the world’s leading pharmaceutical companies.
In addition to its manufacturing facilities located in Panelav, Karkhadi, Jarod, and Sikkim, Alembic has research and development centres in Vadodara, Hyderabad, and New Jersey.
The company also operates subsidiaries such as Alembic Pharmaceuticals Inc. and Alembic Global Holding SA, further expanding its global reach and influence in the pharmaceutical industry.
Alembic has a cumulative total of 216 abbreviated new drug application (ANDA) approvals (188 final approvals and 28 tentative approvals) from USFDA.
At 12:13 PM, the Alembic Pharma share was trading 2.88 per cent higher at Rs 1,227.05 per share. In comparison, BSE Sensex was trading 1.60 per cent lower at 82,917.04 levels
First Published: Oct 03 2024 | 12:20 PM IST
