India's Alembic Pharma rises after US FDA approves skin disease drug

Alembic Pharmaceuticals

26/08/2024 05:20

** Shares of Alembic Pharmaceuticals  ALEM.NS  rose as much
as 5.1%, last up 1% at 1,112.2 rupees
    ** Co got U.S. FDA final approval for Betamethasone Valerate
Foam, 0.12%, used in the treatment of skin conditions
    ** Nifty Pharma index  .NIPHARM , which comprises ALEM's
peers, is flat; ALEM is not part of the index
    ** ALEM stock rated "hold" on avg, same as 10 stocks on
20-member pharma index - LSEG data
    ** ALEM up 46.5% YTD vs ~32% rise in pharma index

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))