Alembic Pharmaceuticals shines on launching desvenlafaxine succinate tablets by its partner

03 Mar 2017 Evaluate

Alembic Pharmaceuticals is currently trading at Rs. 604.95, up by 8.20 points or 1.37% from its previous closing of Rs. 596.75 on the BSE.

The scrip opened at Rs. 600.00 and has touched a high and low of Rs. 615.00 and Rs. 600.00 respectively. So far 12315 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 699.50 on 05-Oct-2016 and a 52 week low of Rs. 515.55 on 18-Apr-2016.

Last one week high and low of the scrip stood at Rs. 615.00 and Rs. 564.50 respectively. The current market cap of the company is Rs. 11359.97 crore.

The promoters holding in the company stood at 72.68%, while Institutions and Non-Institutions held 13.63% and 13.70% respectively.

Alembic Pharmaceuticals has launched desvenlafaxine succinate extended-release tablets 50mg and 100mg by its partner Breckenridge Pharmaceutical, Inc. In June 2015, the company had received final approval of its ANDA which is therapeutically equivalent to the reference listed drug Pristiq of Pfizer Inc. The ANDA was filed as a Paragraph IV on the first-to-file date and will share 180-day exclusivity with other ANDA first filers. The pharma major is the manufacturer of the ANDA, which will be marketed exclusively by Breckenridge.

Desvenlafaxine is a prescription drug that is indicated for the treatment of major depressive disorder, and is in a class of medications called selective serotonin and norepinephrine reuptake inhibitors (SNRIs). According to IMS, Pristiq had an estimated sales of $883 million for twelve months ending December, 2016.

Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, has been at the forefront of Healthcare since 1907. The company manufactures and markets generic pharmaceuticals products all over the world. It now has a total of 52 ANDA approvals (46 Final approvals and 6 tentative approvals) from USFDA.

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