Alembic Pharma gains on getting USFDA`s final approval for Bromfenac Ophthalmic Solution
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Alembic Pharmaceuticals is currently trading at Rs. 978.70, up by 4.80 points or 0.49% from its previous closing of Rs. 973.90 on the BSE.
The scrip opened at Rs. 985.00 and has touched a high and low of Rs. 1005.10 and Rs. 964.85 respectively. So far 12484 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1093.05 on 21-Feb-2024 and a 52 week low of Rs. 641.65 on 14-Jul-2023.
Last one week high and low of the scrip stood at Rs. 1017.00 and Rs. 955.10 respectively. The current market cap of the company is Rs. 19223.87 crore.
The promoters holding in the company stood at 69.61%, while Institutions and Non-Institutions held 19.84% and 10.54% respectively.
Alembic Pharmaceuticals has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Bromfenac Ophthalmic Solution, 0.07%. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), Prolensa Ophthalmic Solution, 0.07%, of Bausch & Lomb Incorporated (Bausch).
Bromfenac Ophthalmic Solution 0.07% is a nonsteroidal anti-inflammatory drug (NSAID) indicated for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract surgery. Bromfenac Ophthalmic Solution, 0.07% has an estimated market size of $168 million for twelve months ending March 2024 according to IQVIA. The company has a cumulative total of 207 ANDA approvals (180 final approvals and 27 tentative approvals) from USFDA.
Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, has been at the forefront of Healthcare since 1907.
