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Alembic Pharmaceuticals rises 3% after JV drug gets US approval

The company's joint venture Aleor Dermaceuticals has got USFDA approval for a spray to treat plaque psoriasis.

October 04, 2019 / 11:30 AM IST
 
 
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Shares of Alembic Pharmaceuticals rose 3 percent intraday on October 4 after the company's joint venture received the USFDA’s approval for a spray used for treating plaque psoriasis.

Aleor Dermaceuticals (Aleor) has got the US Food and Drug Administration nod to for its abbreviated new drug application (ANDA) Clobetasol Propionate Spray, 0.05%.

ANDA is a therapeutically equivalent to the reference listed drug product, Clobex Spray, 0.05%, of Galderma Laboratories LP.

Clobetasol Propionate Spray is used in the treatment of moderate to severe plaque psoriasis affecting up to 20 percent body surface area.

It had an estimated market size of $22 million for twelve months ending December 2018, according to IQVIA.

At 1109 hours, Alembic Pharmaceuticals was quoting at Rs 535, up Rs 9.45, or 1.80 percent, on the BSE.

Moneycontrol News
first published: Oct 4, 2019 11:30 am

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