Alembic Pharma gains on US FDA nod for antimuscarinic drug

Alembic Pharmaceuticals rose 1.12% to Rs 770.65 after the company announced the receipt of US FDA tentative approval for Fesoterodine Fumarate extended-release tablets.

The drug maker said that it has received tentative approval from the US Food & Drug Administration (US FDA) for its abbreviated new drug application (ANDA) for Fesoterodine Fumarate extended-release tablet.

The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Toviaz extended-release tablets of Pfizer Inc. (Pfizer).

Fesoterodine Fumarate extended-release tablets are indicated for the treatment of overactive bladder (OAB) in adults with symptoms of urge urinary incontinence, urgency, and frequency. It may not be indicated for certain other uses due to unexpired exclusivities for the RLD for such uses.

Fesoterodine Furnarate extended-release tablets have an estimated marketsize of US$ 225 million for twelve months ending September 2021 according to IQVIA.

Alembic has received year-to-date (YTD) 20 approvals (14 final approvals and 6 tentative approvals) and a cumulative total of 159 ANDA approvals (137 final approvals arid 22 tentative approvals) from US FDA.

Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company. It manufactures and markets generic pharmaceutical products all over the world.

On a consolidated basis, the drug maker's net profit dropped 49.22% to Rs 169.29 crore on 11.31% decline in sales to Rs 1,292.32 crore in Q2 FY22 over Q2 FY21.

Powered by Capital Market - Live News