Alembic Pharmaceuticals has just announced some major news! The company has received final approval from the US Food & Drug Administration (USFDA) for their Abbreviated New Drug Application (ANDA) Betamethasone Valerate Foam.
Betamethasone Valerate Foam Approval
The newly approved ANDA is therapeutically equivalent to the reference listed drug product, Luxiq Foam, which is developed by Norvium Bioscience, LLC. Betamethasone valerate foam is a medium potency topical corticosteroid used to relieve inflammation and itching associated with corticosteroid-responsive dermatoses of the scalp.
A Milestone for Alembic Pharmaceuticals
This approval marks yet another milestone for Alembic Pharmaceuticals. The company now boasts a total of 213 ANDA approvals, consisting of 185 final approvals and 28 tentative approvals from the USFDA.
About Alembic Pharmaceuticals
Alembic Pharmaceuticals is a leading player in the development, manufacturing, and marketing of pharmaceutical products. They specialize in both Formulations and Active Pharmaceutical Ingredients (APIs).
Financial Performance Highlights
The company has shown solid financial growth. Their consolidated net profit rose by 11.69%, reaching Rs 134.71 crore in the first quarter of FY25, compared to Rs 120.60 crore in the same period last year. Revenue from operations has also seen a year-on-year increase of 5.09%, amounting to Rs 1,561.73 crore for the quarter ending June 30, 2024.
Stock Market Reaction
Despite the good news, Alembic Pharmaceuticals’ stock took a slight dip. The scrip fell by 1.50%, closing at Rs 1,100.55 on Friday, August 23, 2024.
This update confirms Alembic Pharmaceuticals’ promising trajectory in the pharmaceutical sector, both financially and in terms of product development.
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