Alembic Pharmaceuticals is currently trading at Rs 581.20, up by 1.75 points or 0.30% from its previous closing of Rs. 579.45 on the BSE.
The scrip opened at Rs 583.95 and has touched a high and low of Rs 594.65 and Rs 578.45 respectively. So far 18979 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 791.70 on 15-Jul-2015 and a 52 week low of Rs 514.35 on 05-Feb-2016.
Last one week high and low of the scrip stood at Rs. 594.65 and Rs. 540.00 respectively. The current market cap of the company is Rs. 11004.62 crore.
The promoters holding in the company stood at 74.13%, while Institutions and Non-Institutions held 12.92% and 12.96% respectively.
Alembic Pharmaceuticals has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Febuxostat Tablets, 40 mg and 80 mg. Febuxostat Tablets are indicated for the chronic management of hyperuricemia in patients with gout.
The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Uloric Tablets, 40 mg and 80 mg of Takeda Pharmaceuticals USA, Inc. According to IMS, Uloric had an estimated market size of $430 million for twelve months ending December 2015.
Besides, Alembic has settled the case with Takeda and will launch its generic as per the terms of the settlement. The pharma major now has a total of 48 ANDA approvals (43 Final approvals and 5 tentative approvals) from USFDA.
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