India's Alembic Pharma gains after US FDA approval for drug

Alembic Pharmaceuticals

05/09/2024 08:52

** Shares of Alembic Pharmaceuticals  ALEM.NS  rise as much
as 4.8% to 1,170 rupees, their highest levels since Aug 9
    ** Co gets U.S. FDA's final approval for Albendazole tablets
USP, 200 mg
    ** The tablets are used to treat neurocysticercosis
infection caused by pork tapeworms
    ** More than 716,000 shares change hands, 2.5x its 30-day
avg
    ** Ten analysts covering the stock on avg have a "hold"
rating; median PT is 1,010 rupees - Refinitiv data
    ** Stock up 53% so far this year vs a 39% gain in Nifty
Pharma Index  .NIPHARM 

    
    

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))