Alembic Pharmaceuticals gains after its arm gets nod for Investigational New Drug application

02 Dec 2020 Evaluate

Alembic Pharmaceuticals is currently trading at Rs. 992.05, up by 6.75 points or 0.69% from its previous closing of Rs. 985.30 on the BSE.

The scrip opened at Rs. 985.00 and has touched a high and low of Rs. 1005.25 and Rs. 981.90 respectively. So far 7411 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1128.00 on 07-Aug-2020 and a 52 week low of Rs. 436.10 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1018.00 and Rs. 974.25 respectively. The current market cap of the company is Rs. 19530.51 crore.

The promoters holding in the company stood at 69.77%, while Institutions and Non-Institutions held 16.46% and 13.76% respectively.

Alembic Pharmaceuticals’ step down wholly owned subsidiary -- Rhizen has received approval from US Food and Drug Administration (USFDA) for its Investigational New Drug (IND) application to study its oral DHODH inhibitor for SARS-CoV-2 infection. The initial study shall evaluate single ascending doses of RP7214 in healthy volunteers and that dosing is expected to commence in early December 2020.

Dihydroorotate dehydrogenase (DHOHD) is a key enzyme involved in pyrimidine biosynthesis in the cell. RP7214 is potentially a best-in-class selective DHODH inhibitor that has shown potent inhibition of Covid19 viral replication.

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

Alembic Pharma Share Price

979.40 -4.45 (-0.45%)
28-Mar-2024 16:01 View Price Chart
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