The shares of this pharmaceutical company gained up to 7 percent after the company received various US Food & Drug Administration (USFDA) product approvals.
With a market capitalization of Rs 15,792.86 crores. The shares of Alembic Pharmaceuticals Ltd were trading at Rs 803.45 per share, increasing around 4.97 percent compared to the previous closing price of Rs 765.40 apiece.
According to the company filing, Alembic Pharmaceuticals Ltd received various US Food & Drug Administration (USFDA) Product Approvals (Tentative or Final) during the quarter that ended 31 December 2023, Alembic has a total of 196 ANDA approvals in that 170 final approvals and 26 tentative approvals from USFDA.
Looking into the company’s financial, Alembic Pharmaceuticals Ltd’s revenue increased by 8 percent from Rs 1,475 Crore in Q2FY23 to Rs 1,595 Crore in Q2FY24. During the same period, net profits increased by 3 percent from Rs 133 crore to Rs 137 crore.
The company’s specialized therapies division comprises 35 products that generate more than Rs 10 crore in sales each year. In the previous two years, several of the company’s specialist therapy brands have risen more than 100 places in the rankings.
In FY23, the business introduced 33 new SKUs, 66% of which were in specialist treatments. Some of these goods were a huge success right away. Alembic’s new launch in the Gynaecology domain was ranked second out of 3,072 new launches in the previous 12 months by IPM.
Alembic Group is engaged in the Pharmaceuticals business; revenue can be disaggregated as API business and Formulation business Rs 1,165.51 Crores and Rs 4,487.10 Crores, respectively, and revenue can be disaggregated as India Rs 2,313.67 Crores and outside India Rs 3,338.95 Crores.
Alembic Group is in the Pharmaceuticals industry; revenue may be broken down into API and Formulation business revenue of Rs 1,165.51 Crores and Rs 4,487.10 Crores, respectively, and revenue can be broken down into India revenue of Rs 2,313.67 Crores and revenue from outside India of Rs 3,338.95 Crores.
Written by:- Abhishek Singh
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