Home / BUSINESS / Alembic Pharma shines as its JV gets nod for Clobetasol Propionate Topical Solution

Alembic Pharma shines as its JV gets nod for Clobetasol Propionate Topical Solution

Alembic Pharmaceuticals is currently trading at Rs. 546.00, up by 5.90 points or 1.09% from its previous closing of Rs. 540.10 on the BSE.

The scrip opened at Rs. 540.10 and has touched a high and low of Rs. 546.50 and Rs. 536.10 respectively. So far 2077 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. 565.00 and Rs. 510.00 respectively. The current market cap of the company is Rs. 10221.33 crore.

The promoters holding in the company stood at 72.97%, while Institutions and Non-Institutions held 15.97% and 11.06% 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 Topical Solution USP, 0.05%. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Temovate Topical Solution, 0.05%, of Fougera Pharmaceuticals Inc. (Fougera). Clobetasol Propionate Topical Solution USP, 0.05% is indicated for short-term topical treatment of inflammatory and pruritic manifestations of moderate to severe corticosteroid-responsive dermatoses of the scalp.

Clobetasol Propionate Topical Solution USP, 0.05%, has an estimated market size of $33 million for twelve months ending December 2018 according to IQVIA. Alembic has a cumulative total of 104 ANDA approvals (92 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.

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