Alembic Pharmaceuticals jumped 2.25% to Rs 1,125.35 after the company announced that it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Betamethasone Valerate Foam.
The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Luxiq Foam of Norvium Bioscience, LLC (Norvium).Betamethasone valerate foam is a medium potency topical corticosteroid indicated for relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses of the scalp.
The company has a cumulative total of 213 ANDA approvals (185 final approvals and 28 tentative approvals) from USFDA.
Alembic Pharmaceuticals is in the business of development, manufacturing, and marketing of Pharmaceuticals products i.e. Formulations and Active Pharmaceutical Ingredients.
The pharmaceutical companys consolidated net profit increased 11.69% to Rs 134.71 crore in Q1 FY25 as compared to Rs 120.60 crore posted in Q1 FY24. Revenue from operations grew 5.09% year on year (YoY) to Rs 1,561.73 crore in the quarter ended 30 June 2024.
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