Alkem Laboratories

Alkem Laboratories Ltd on Thursday announced almost doubling of investment to up to Rs 1,036 crore for its proposed greenfield formulations manufacturing facility in Ujjain, Madhya Pradesh. The board of the directors of the company on April 2 has approved an increase in investment from up to Rs 533 crore to up to Rs 1,036 crore to be made in a phased manner for setting up of manufacturing facility in Ujjain, Alkem Laboratories Ltd said in a regulatory filing. Earlier on March 18, the company had stated that it has received allotment letter from DMIC Vikram Udyogpuri Ltd, for allotment of 30 acres land for setting up of the greenfield formulations manufacturing facility at Ujjain and the company's board had approved an investment of up to Rs 533 crore to be made in a phased manner.

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Alkem Laboratories on Monday said it has launched a biosimilar product in India for the treatment of breast cancer. The company has introduced Pertuza injection 420mg/14mL, a pertuzumab biosimilar, for the treatment of HER2-positive breast cancer, the drug firm said in a statement. Alkem's Pertuza is an affordable, indigenously-developed and manufactured biosimilar of pertuzumab, it added. "Oncology is a priority area for Alkem, and our efforts are focused on developing treatment options that combine scientific excellence with wider access. The launch of Pertuza reflects this commitment and further strengthens our oncology portfolio," Alkem CEO Vikas Gupta said. Shares of the company on Monday ended 0.69 per cent down at Rs 5,496 apiece on BSE.

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Alkem Laboratories on Friday said its consolidated net profit increased by 91 per cent to Rs 550 crore in the first quarter ended June 2024, aided by robust sales. The drug firm had reported a net profit of Rs 288 crore in the April-June quarter of last fiscal. Total income increased to Rs 3,152 crore in the first quarter as against Rs 3,033 crore in the year-ago period, Alkem Laboratories said in a regulatory filing. "We are happy that our efforts to improve profitability have started paying off, and we have seen a marked increase in margins during the quarter," Alkem Laboratories CEO Vikas Gupta said. The company is committed to maximise EBITDA margin by managing product mix, controlling costs, and taking advantage of the favourable raw material pricing environment, he added. "The domestic business is our stronghold, and we expect to build on it by furthering the growth of our large brands and bridging portfolio gaps. Simultaneously, we are also focusing on growing our business

On Wednesday, Alkem Laboratories reported a 313.9 per cent surge in its consolidated net profit, reaching Rs 293.5 crore in the quarter ending March 31, 2024

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