Alembic Pharma Share Price Surge: USFDA Approval Fuels Expansion Plans
Alembic Pharma Share Price Surge Following USFDA Approval
Alembic Pharma share price escalated by 5% on Thursday after the company celebrated the final USFDA approval for its Lamotrigine Extended-Release tablets, essential in treating various seizure disorders.
USFDA Approval and Market Potential
This significant approval is an addition to Alembic Pharma's impressive portfolio with a total of 216 ANDA approvals from the USFDA, consisting of 188 final approvals and 28 tentative approvals. Lamotrigine Extended-Release, indicated for patients aged 13 and over, aids in the management of primary generalized tonic-clonic seizures and partial-onset seizures.
- Dosage strengths include 200 mg, 250 mg, and 300 mg.
- The US market for Lamotrigine Extended-Release tablets is estimated around $163 million for the 12 months ending June 2024.
Alembic Pharma's Expansion Plans
Headquartered in India, Alembic Pharma holds a strong presence in the global market. The company is gearing up for ambitious expansion of its US operations, planning over 20 product launches for financial year 2025. According to Managing Director Pranav Amin, though initially slow with launches, Alembic Pharma has secured 11 new approvals, positioning itself strategically for competitive advantage in the US market.
Shares of Alembic Pharma traded at ₹1,250, marking an impressive 63% increase in 2024 to date.
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