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Alembic Pharmaceuticals shines on getting USFDA approval for Bromfenac Ophthalmic Solution

Mumbai : Alembic Pharmaceuticals is currently trading at Rs. 485.00, up by 9.10 points or 1.91% from its previous closing of Rs. 475.90 on the BSE. The scrip opened at Rs. 476.35 and has touched a high and low of Rs. 489.90 and Rs. 474.00 respectively. So far 2099 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 664.00 on 27-Sep-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. 498.00 and Rs. 435.10 respectively. The current market cap of the company is Rs. 9003.52 crore. The promoters holding in the company stood at 72.97%, while Institutions and Non-Institutions held 14.98% and 12.05% respectively. Alembic Pharmaceuticals has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Bromfenac Ophthalmic Solution 0.09%. The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Bromday Ophthalmic Solution, 0.09%, of Bausch & Lomb Incorporated (Bausch & Lomb). Bromfenac Ophthalmic Solution 0.09% is indicated for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract surgery.

According to IQVIA, Bromfenac Ophthalmic Solution 0.09% has an estimated market size of US$ 6 million for twelve months ending December 2018. Alembic now has a total of 96 ANDA approvals (84 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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