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Alembic Pharma gains as its JV receives USFDA’s nod for Clobetasol Propionate Spray

Alembic Pharmaceuticals is currently trading at Rs. 554.00, up by 28.45 points or 5.41% from its previous closing of Rs. 525.55 on the BSE.

The scrip opened at Rs. 526.00 and has touched a high and low of Rs. 561.35 and Rs. 526.00 respectively. So far 6370 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 636.50 on 03-Dec-2018 and a 52 week low of Rs. 435.10 on 21-Jun-2019.

Last one week high and low of the scrip stood at Rs. 561.35 and Rs. 505.20 respectively. The current market cap of the company is Rs. 10085.60 crore.

The promoters holding in the company stood at 72.97%, while Institutions and Non-Institutions held 14.97% and 12.06% respectively.

Alembic Pharmaceuticals’ joint venture (JV) Aleor Dermaceuticals (Aleor) has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Clobetasol Propionate Spray, 0.05%. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Clobex Spray, 0.05% of Galderma Laboratories L.P. (Galderma). Clobetasol Propionate Spray, 0.05% is indicated for the treatment of moderate to severe plaque psoriasis affecting up to 20% body surface area (BSA) in patients 18 years of age or older.

Clobetasol Propionate Spray, 0.05%, has an estimated market size of $22 million for twelve months ending December 2018 according to IQVIA.

Alembic has a cumulative total of 103 ANDA approvals (91 final approvals and 12 tentative approvals) from USFDA.

Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, has been at the forefront of Healthcare since 1907.