Alembic Pharmaceuticals gained 1.57% to Rs 922.60 after the company said that its joint venture, Aleor Dermaceuticals, received US drug regulator's final approval for Adapalene Gel USP, 0.3%.
Alembic Pharmaceuticals pm Friday (19 June) announced that its joint venture, Aleor Dermaceuticals (Aleor), has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Adapalene Gel USP, 0.3%.The approved ANDA is therapeutically equivalent to Differin Gel of Galderma Laboratories. It is indicated for the topical treatment of acne vulgaris in patients 12 years of age and older.
Adapalene Gel USP, 0.3% has an estimated market size of $34 million for twelve months ending March 2020 according to IQVIA.
Alembic has a cumulative total of 123 ANDA approvals (110 final approvals and 13 tentative approvals) from USFDA.
The stock has surged nearly 87% in last three months compared with 21.2% rise in the Sensex.
Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company. Its consolidated net profit jumped 54.8% to Rs 203.52 crore on a 30.2% rise in net sales to Rs 1,206.83 crore in Q4 March 2020 over Q4 March 2019.
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