Alembic Pharmaceuticals - Tentative Approval for JV - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

"Alembic Pharmaceuticals Limited announced that its joint venture Aleor Dermaceuticals Limited (Aleor) has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Testosterone Gel, 1.62%. The tentatively approved ANDA is therapeutically equivalent to the reference listed drug product (RLD). AndroGel 1.62%, of AbbVie Inc. (AbbVie). Testosterone Gel is indicated for replacement therapy in adult males for conditions associated with a deficiency or absence of endogenous testosterone, Primary hypogonadism and Hypogonadotropic hypogonadism (congenital or acquired). Testosterone Gel, 1.62% has an estimated market size of US$ 107 million for twelve months ending September 2020 according to IQVIA. This is important approval for alembic pharmaceuticals this will help the company to increase its USA revenue share, it may take 6-9 months to launch this product."

Shares of ALEMBIC PHARMACEUTICALS LTD. was last trading in BSE at Rs.978.6 as compared to the previous close of Rs. 996.3. The total number of shares traded during the day was 12190 in over 1318 trades.

The stock hit an intraday high of Rs. 1000 and intraday low of 974.15. The net turnover during the day was Rs. 11971905.

Source : Equity Bulls

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