Alembic Pharmaceuticals rose 2% to Rs 768.55, extending gains for second day.
Shares of the pharmaceutical company have added 3.02% in two sessions from its recent closing low of Rs 745.95 on 30 April 2020.
Alembic Pharma, during market hours yesterday, said that the US Food and Drug Administration (US FDA) has classified the its general oral solid formulation facility located at Panelav, Gujarat, as voluntary action indicated (VAI). Inspection at the said facility was conducted by US FDA from 9 March 2020 to 13 March, 2020. VAI classification means that the US FDA accepted the company's response to its observations, the drug maker said.
On a consolidated basis, the pharmaceutical company's net profit rose 88.10% to Rs 233.25 crore on a 30.19% increase in the net sales to Rs 1,206.83 crore in Q4 March 2020 over Q4 March 2019. The result was announced on 23 April 2020.
Alembic Pharmaceuticals is engaged developing formulations and active pharmaceutical ingredients (API).
Powered by Capital Market - Live News