Alembic Pharma gets US health regulator approval for diabetes drug

Alembic Pharmaceuticals said Friday it has received tentative approval from the US health regulator to market Alogliptin and Metformin Hydrochloride tablets, an anti-diabetes medication, in the US market.

The company's product is a generic version of Takeda Pharma USA's Kazano tablets, Alembic Pharmaceuticals said in a regulatory filing.

Alogliptin and Metformin Hydrochloride tablets had an estimated market size of $22.5 million in the US for 12 months ending December 2017, according to the market data.

Alembic now has a total of 77 abbreviated new drug application (ANDA) approvals from the USFDA.

Shares of the company gained 1.17 per cent to settle at Rs 647.70 apiece on BSE Friday.