Alembic Pharmaceuticals advanced 2.94% to Rs 1,011.20 after it received tentative approval from the US Food & Drug Administration (US FDA) for Ribociclib tablets.
The approved drug is generic equivalent to the Kisqali tablets of Novartis Pharmaceuticals Corporation.Ribociclib tablets are indicated for the treatment of adult patients with hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)- negative advanced or metastatic breast cancer in combination with an aromatase inhibitor or fulvestrant as initial endocrine-based therapy.
Alembic has a cumulative total of 197 ANDA approvals (170 final approvals and 27 tentative approvals) from USFDA.
Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company. The company manufactures and markets generic pharmaceutical products all over the world.
The companys consolidated net profit increased jumped 48.01% to Rs 180.45 crore despite of 8.05% fall in revenue from operations to Rs 1,630.57 crore in Q3 FY24 over Q3 FY23.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
