Alembic Pharma rises after receiving tentative approval for hypertension drug

Alembic Pharmaceuticals gained 1.95% to Rs 806.90 after the company announced that it has received tentative approval from the USFDA for selexipag tablets.

The tentatively approved ANDA is therapeutically equivalent of Uptravi Tablets of Actelion Pharmaceuticals. Selexipag Tablets are indicated for the treatment of pulmonary arterial hypertension (PAH) to delay disease progression and reduce the risk of hospitalization for PAH.

According to IQVIA, selexipag tablets have an estimated market size of $461 million for twelve months ending September 2021. Alembic has now received year to date 15 approvals (11 final approvals and 4 tentative approvals) and a cumulative total of 154 ANDA 'approvals (134 final approvals arid 20 tentative approvals) from USFDA.

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

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

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