Alembic Pharma up 8% as USFDA approves Doxycycline Hyclate capsules

The stock has moved higher by 8% to Rs 530, bouncing back 11% from early morning low of Rs 478 on the BSE.

Alembic Pharmaceuticals has moved higher by 8% to Rs 530, bouncing back 11% from early morning low on the BSE after the company announced that it has received US drug regulator’s approval Doxycycline Hyclate capsules USP, 50 mg and 100 mg. The stock hit an intra-day low of Rs 478 in early morning trade.

“The company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Doxycycline Hyclate Capsules USP, 50 mg and 100 mg,” Alembic Pharma said in a press release.

The approved ANDA is therapeutically equivalent to