February 12, 2025
Alembic Pharma shares surge 5% on USFDA product approvals

Within the final six months, Alembic Pharma inventory has rallied almost 29 p.c, outperforming benchmark Nifty 50

Shares of Alembic Pharma surged over 5 p.c on January 2 after the corporate knowledgeable exchanges that it acquired a number of approvals from the US Meals & Drug Administration (USFDA) for tentative or closing merchandise in the course of the quarter ended December 31, 2023.

Alembic has a complete of 196 ANDA approvals from the USFDA that embrace 170 closing approvals and 26 tentative approvals, in accordance with the regulatory submitting.

Story continues beneath Commercial

At 11am, the Alembic shares had been buying and selling 5.6 p.c increased at Rs 808.90 on the Nationwide Inventory Alternate (NSE). The inventory climbed 3 p.c within the earlier session as effectively.

Within the final six months, the Alembic Pharma inventory has rallied almost 29 p.c, outperforming the benchmark Nifty 50 which has risen almost 12 p.c throughout this era.

Observe our market weblog to catch all of the stay motion

For the quarter ended September 2023, the pharma firm reported a 3.21 p.c on-year enhance in web revenue (PAT) at Rs 136.56 crore attributed to the discount in depreciation and amortisation expense. Its consolidated income from operations rose 8.17 p.c to Rs 1,594.93 crore.

Following the optimistic outcomes, brokerages remained optimistic about Alembic Pharma over its US pipeline.

Brokerages foresee a optimistic trajectory for Alembic’s US enterprise as new facility launches acquire momentum over the approaching quarters, which can result in a wholesome working leverage. The lively pharmaceutical ingredient (API) enterprise can be anticipated to keep up a gentle efficiency, pushed by a sturdy order e book.

Story continues beneath Commercial

Additionally learn | Energy Grid Company hits 52-week excessive on successful inter-state transmission mission

Alembic Pharma plans to launch over 20 merchandise in FY24, with concentrate on oral solids, injectables, and derma segments. The approvals from the USFDA are anticipated to maintain the corporate on its product launch goal.

Disclaimer: The views and funding suggestions expressed by funding consultants on Moneycontrol.com are their very own and never these of the web site or its administration. Moneycontrol.com advises customers to verify with licensed consultants earlier than taking any funding selections.