India's Alembic Pharma falls after US FDA scrutiny

Alembic Pharmaceuticals

11/03/2024 08:39

** Shares of Alembic Pharmaceuticals  ALEM.NS  down 2% to 979.50
rupees 
    ** Pharmaceutical co said on Friday that the U.S. Food and
Drug Administration (US FDA) issued Form 483 with four
observations for its oncology formulation facility in the
western state of Gujarat
    ** Mean rating of 14 analysts is "hold"; median PT is 897.50
rupees, 9.1% lower than current price - LSEG data
    ** Including session's moves, stock is up ~29% this year,
smaller than its 32.6% rise in 2023


 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))