 "Here's why Alembic Pharma was buzzing in trade on December 20, details here")
Alembic Pharma share price: Pharmaceutical major Alembic Pharmaceuticals shares were in demand on Friday, December 20, 2024, as the scrip soared as much as 2.95 per cent to hit an intraday high of Rs 1,081.10 apiece.
The uptick in Alembic Pharma share came after the company announced that it has received final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Divalproex Sodium Delayed-Release Capsules USP, 125 mg.
Divalproex Sodium is an anti-epileptic medication used for monotherapy and adjunctive therapy in treating complex partial seizures, simple and complex absence seizures, as well as adjunctive therapy in patients with multiple seizure types, including absence seizures.
The approved ANDA is considered therapeutically equivalent to the reference listed drug (RLD), Depakote Sprinkle Capsules, 125 mg, by AbbVie Inc, Alembic Pharma said in a statement.
The estimated market size for Divalproex Sodium Delayed-Release Capsules USP, 125 mg, is approximately US$ 61.1 million for the twelve months ending September 2024, as per IQVIA data.
With this approval, Alembic now has a cumulative total of 220 ANDA approvals from USFDA, comprising 193 final approvals and 27 tentative approvals, the company revealed.
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Alembic Pharma share price history
Alembic Pharma share has jumped about 39 per cent this year-to-date (Y-T-D) while the scrip has rallied over 26 per cent in the past six months.
In the past 5 days, the stock has fallen marginally (0.3 per cent), while it has risen over 2 per cent in the past month.
About Alembic Pharma
Alembic Pharmaceuticals 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.
At 2:00 PM, the Alembic Pharma share was trading 1.56 per cent higher at Rs 1,066.55 per share. By comparison, BSE Sensex was trading 1.04 per cent lower at 78,394.07 levels.