Shares of Alembic Pharmaceuticals today rose by over 3 per cent after the company received approval from the US health regulator for its Doxycycline Hyclate capsules used for the treatment of a wide variety of bacterial infections.
The stock went up by 3.32 per cent to settle at Rs 506.55 on the BSE. During the day, it surged 8 per cent to Rs 529.90.
On the NSE, shares of the company went up by 2.64 per cent to close at Rs 504.85.
The approval from the United States Food and Drug Administration (USFDA) is for the company's abbreviated new drug application (ANDA) for Doxycycline Hyclate capsules USP, in the strengths of 50 mg and 100 mg, Alembic Pharmaceuticals said in a BSE filing.
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