Gains 2% On USFDA Approval – Alembic Pharma

On Thursday Alembic Pharmaceuticals shares it gained 2% Intraday and it received USFDA (United States Food & Drug Administration) approval.The company also received approval from the USFDA for the abbreviated New Drug Application for the Amantadine Hydrochloride capsules USP 100 mg.
The ANDA approval is equivalent to the reference or the listed drug product Symmetrel capsules 100 mg. The capsules are indicated in the treatment of parkinsonism and drug induced extrapyramidal reactions.
The total approval is 58 ANDA from the USFDA. The market size of USD 37 million for the 2 months from the ending December 2016.
The company also received approval on June 21 from USFDA for Candesartan Cilexetil Tablet 32mg. Alembic Pharmaceuticals was quoting at Rs. 541 up to Rs. 9.10 or 1.71% on the BSE.
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