India's Alembic Pharma gains after US FDA nod for schizophrenia drug

Alembic Pharmaceuticals

24/07/2024 10:05

** Shares of Alembic Pharmaceuticals  ALEM.NS  climb 7.8% to
1,169 rupees 
    ** Drugmaker received US FDA nod for Fluphenazine
Hydrochloride Tablets, used for treating psychological disorders
such as schizophrenia
    ** Analysts' avg rating on ALEM, rival Dr Reddy's  REDY.NS 
at "hold", while Cipla  CIPL.NS  rated "buy" - LSEG data
    ** ALEM's 54% YTD climb highest, trailed by CIPL's 21% and
REDY's ~18% gains, respectively; Nifty pharma index  .NIPHARM 
up ~24% YTD
     

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))