Alkem Laboratories trades higher on the BSE

Alkem Laboratories is currently trading at Rs. 3562.05, up by 17.30 points or 0.49% from its previous closing of Rs. 3544.75 on the BSE.

The scrip opened at Rs. 3541.05 and has touched a high and low of Rs. 3569.90 and Rs. 3514.50 respectively. So far 1044 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 4270.95 on 10-Aug-2023 and a 52 week low of Rs. 2835.05 on 02-Mar-2023.

Last one week high and low of the scrip stood at Rs. 3705.70 and Rs. 3535.85 respectively. The current market cap of the company is Rs. 42647.64 crore.

The promoters holding in the company stood at 57.16%, while Institutions and Non-Institutions held 21.98% and 20.86% respectively.

Alkem Laboratories (Alkem) and Biosergen AB (Biosergen) have signed a co-development and license agreement for BSG005, an innovative polyene macrolide, through phase II and phase III trials for sale in the Indian market. Biosergen AB is developing BSG005 for the treatment of severe and difficult-to-treat invasive fungal diseases. After the successful completion of two phase I studies, the first patient trial will be conducted in India on patients with severe fungus disease who are intolerant or resistant to treatment with Amphotericin B. India is one of the countries with the highest incidence of difficult-to-treat life-threatening fungal infections.

Alkem will manage the first clinical patient trial, which is expected to start immediately after the regulatory approval. The trial will enrol patients suffering from severe fungal infections such as mucormycosis (Black Fungus), aspergillosis, and candidiasis, who are intolerant or resistant to Amphotericin B. Based on the safety and efficacy profile demonstrated in the preclinical studies and the phase I trials, BSG005 may provide a suitable treatment option for these patients. Once the clinical trials are successfully completed in India, Biosergen and Alkem aim to expand its use for similar patient groups in the US and EU via pivotal trials. Alkem will invest in the clinical development of BSG005 and will be granted an exclusive license to market it in India.

Alkem Laboratories is a leading Indian pharmaceutical company with global operations, engaged in the development, manufacture and sale of pharmaceutical and nutraceutical products. The company produces branded generics, generic drugs, active pharmaceutical Ingredients (APIs) and nutraceuticals, which it markets in India and International markets.