Alembic Pharmaceuticals surges after its JV gets tentative approval for Testosterone Gel

26 Nov 2020 Evaluate

Alembic Pharmaceuticals is currently trading at Rs. 990.00, up by 11.40 points or 1.16% from its previous closing of Rs. 978.60 on the BSE.

The scrip opened at Rs. 995.00 and has touched a high and low of Rs. 996.00 and Rs. 976.90 respectively. So far 4816 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1128.00 on 07-Aug-2020 and a 52 week low of Rs. 436.10 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1003.35 and Rs. 962.00 respectively. The current market cap of the company is Rs. 19383.09 crore.

The promoters holding in the company stood at 69.77%, while Institutions and Non-Institutions held 16.46% and 13.76% respectively.

Alembic Pharmaceuticals’ joint venture (JV) -- Aleor Dermaceuticals (Aleor) has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Testosterone Gel, 1.62% (20.25 mg/1.25 gm actuation). The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product (RLD). AndroGel 1.62%, of AbbVie Inc. (AbbVie). Testosterone Gel, 1.62% (20.25 mg/1.25 gm actuation) is indicated for replacement therapy in adult males for conditions associated with a deficiency or absence of endogenous testosterone: Primary hypogonadism (congenital or acquired) and Hypogonadotropic hypogonadism (congenital or acquired).

Testosterone Gel, 1.62% (20.25 mg/1.25 gm actuation) has an estimated market size of $107 million for twelve months ending September 2020. The company has a cumulative total of 136 ANDA approvals (117 final approvals and 19 tentative approvals) from USFDA.

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

Alembic Pharma Share Price

1126.75 43.45 (4.01%)
31-Oct-2024 16:01 View Price Chart
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