 "What drove this pharmaceutical stock's 4% increase today? Find out here!")
Alembic Pharma share price: Pharmaceutical company Alembic Pharmaceuticals share rose up 3.63 per cent to hit an intraday high of Rs 1,235.95 per share on Monday, September 30, 2024.
Alembic Pharma share price surged after the United States Food and Drug Administration (USFDA) issued establishment inspection report (EIR) for the inspection carried out at the company’s Oral Solid Formulation Facility (F-I).
In an exchange filing, Lupin said, “We are pleased to inform the exchanges that the Company has received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (US FDA) for the inspection carried out by them at our Oral Solid Formulation Facility (F-I) from July 17, 2024 to July 26, 2024.”
The USFDA had inspected the facility July 17 until July 26, 2024.
“With this, for all our USFDA facilities, EIRs are in place,” Alembic Pharma said in a statement.
Alembic Pharma performance
More From This Section
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 60 per cent this year-to-date (Y-T-D) while the scrip has rallied over 21 per cent in the past six months.
In the past 5 days, the stock has zoomed over 6 per cent while it has surged about 14 per cent in the past month.
Alembic Pharma background
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 11:20 AM, the Alembic Pharma share was trading 2.88 per cent higher at Rs 1,227.05 per share. In comparison, BSE Sensex was trading 0.93 per cent lower at 84,778.70 levels.