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Alembic Pharma share hits all-time high on USFDA nod for Rivaroxaban tablets

Alembic Pharmaceuticals said it received tentative approval for its generic version of Rivaroxaban tablets, which is used in the treatment of embolism and deep vein thrombosis

twitter-logoBusinessToday.In | June 22, 2020 | Updated 14:51 IST
Alembic Pharma share hits all-time high on USFDA nod for Rivaroxaban tablets
The stock has risen 8.5% in one week, 7.5% in one month and 68% since the beginning of the year

Alembic Pharma share price touched all-time high today after the company announced that it has received tentative approval from US Food & Drug Administration (USFDA) for Rivaroxaban Tablets.

Alembic Pharmaceuticals said it received tentative approval for its generic version of Rivaroxaban tablets, which is used in the treatment of embolism and deep vein thrombosis.

Following the update, shares of Alembic Pharmaceuticals touched an all time high of Rs 984 apiece, rising 4.02% on BSE.

Alembic Pharma stock has risen 6.58% in 2 days of straight gains. The pharma stock is trading higher than 5, 20, 50, 100 and 200-day moving averages.

The stock has risen 8.5% in one week, 7.5% in one month and 68% since the beginning of the year.

Citing IQVIA data, Alembic Pharmaceuticals said Rivaroxaban tablets, 10 mg, 15 mg, and 20 mg have an estimated market size of USD 6.1 billion for the 12 months period ended March 2020. With this, Alembic now has total of 124 ANDA approvals (110 final approvals and 14 tentative approvals) from USFD.

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