Alembic Pharmaceuticals receive USFDA nod for Efinaconazole topical solution
Alembic Pharmaceuticals today announced that its joint venture, Aleor Dermaceuticals has received tentative approval from USFDA for its abbreviated new drug application (ANDA) for Efinaconazole topical solution, 10 per cent.
Alembic has a total of 140 ANDA approvals from USFDA, out of which, 123 are final approvals while 17 are tentative approvals.
Reacting to this, the company’s stock today increased by 3.29 per cent and made an intraday high of Rs 1,005.30 per share at 9.43 am.
Alembic Pharmaceuticals is a research & development pharmaceutical company. It manufactures and markets generic pharmaceutical products all over the world.
Meanwhile, Aleor Dermaceuticals is a joint venture between Alembic and Orbicular Pharmaceutical Technologies Pvt Ltd. It was formed in April 2016, focussing on commercialising dermatology products globally.
According to BSE data, the stock traded at a P/E multiple of 15.20 and a price-to-book ratio of 4.04. The stock has a 52-week high and a 52-week low of Rs 1,150 and Rs 600, respectively.
At the time of market closing, the stock of the company was trading at Rs 978.50, up by 0.54 per cent on BSE.