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Alembic Pharmaceuticals gains on getting USFDA’s approval for Formoterol Fumarate Inhalation Solution

Alembic Pharmaceuticals gains on getting USFDA’s approval for Formoterol Fumarate Inhalation Solution

Alembic Pharmaceuticals is currently trading at Rs. 740.30, up by 4.65 points or 0.63% from its previous closing of Rs. 735.65 on the BSE.

The scrip opened at Rs. 725.00 and has touched a high and low of Rs. 750.30 and Rs. 725.00 respectively. So far 35459 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1150.00 on 18-Dec-2020 and a 52 week low of Rs. 720.80 on 23-Aug-2021.

Last one week high and low of the scrip stood at Rs. 793.90 and Rs. 724.40 respectively. The current market cap of the company is Rs. 14482.77 crore.

The promoters holding in the company stood at 69.48%, while Institutions and Non-Institutions held 16.94% and 13.58% respectively.

Alembic Pharmaceuticals has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Formoterol Fumarate Inhalation Solution, 20 mcg/2 ml per Unit-Dose Vial. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Perforomist Inhalation Solution, 20 mcg/2 ml per Unit-Dose Vial, of Mylan Specialty, L.P.

Formoterol Fumarate Inhalation Solution is a long-acting beta2-adrenergic agonist (beta2-agonist) indicated for long-term, twice daily (morning and evening) administration in the maintenance treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease (COPD), including chronic bronchitis and emphysema.

This ANDA has been co-developed in partnership with Orbicular Pharmaceutical Technologies.

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