Alembic Pharma rises on getting tentative USFDA`s nod for breast cancer drug
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Alembic Pharmaceuticals is currently trading at Rs. 1013.55, up by 8.70 points or 0.87% from its previous closing of Rs. 1004.85 on the BSE.
The scrip opened at Rs. 1008.95 and has touched a high and low of Rs. 1035.00 and Rs. 1003.80 respectively. So far 3128 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. 485.05 on 05-Apr-2023.
Last one week high and low of the scrip stood at Rs. 1035.00 and Rs. 963.10 respectively. The current market cap of the company is Rs. 19826.34 crore.
The promoters holding in the company stood at 69.61%, while Institutions and Non-Institutions held 19.02% and 11.37% respectively.
Alembic Pharmaceuticals has received tentative approval for generic Ribociclib tablets used in the treatment of breast cancer in the March quarter. The tentative approval by the US Food & Drug Administration (USFDA) was for Ribociclib tablets of strength 200 mg.
The medicine is indicated for the treatment of adult patients with a certain type of advanced or metastatic breast cancer in a combination of drug therapy. It is the generic equivalent of Novartis' Kisqali tablets.
Alembic Pharmaceuticals, a vertically integrated research and development pharmaceutical company, has been at the forefront of Healthcare since 1907.
