Alembic Pharmaceuticals is currently trading at Rs. 625.45, up by 15.50 points or 2.54% from its previous closing of Rs. 609.95 on the BSE.
The scrip opened at Rs. 622.00 and has touched a high and low of Rs. 629.00 and Rs. 616.00 respectively. So far 6959 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 709.30 on 23-Mar-2017 and a 52 week low of Rs. 517.90 on 24-Jun-2016.
Last one week high and low of the scrip stood at Rs. 645.05 and Rs. 607.50 respectively. The current market cap of the company is Rs. 11615.41 crore.
The promoters holding in the company stood at 72.68%, while institutions and non-institutions held 13.74% and 13.58% respectively.
Alembic Pharmaceuticals has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Vilazodone Hydrochloride Tablets, 10mg, 20mg and 40mg.
The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Viibryd Tablets, 10 mg, 20mg and 40mg, of Forest Labs LLC. Vilazodone Hydrochloride Tablets are indicated for the treatment of Major Depressive Disorder (MDD). Alembic is currently in litigation with Forest Labs LLC in District Court of Delaware and has stipulated to stay the case in view of the ongoing settlement discussions.
Vilazodone Hydrochloride Tablets have an estimated market size of $340 million for twelve months ending December 2016 according to IMS. Alembic now has a total of 54 ANDA approvals (47 final approvals and 7 tentative approvals) from the USFDA.
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.
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