India's Alembic Pharma rises on US FDA nod for eye treatment drug

Alembic Pharmaceuticals

04/10/2024 08:36

** Shares of Alembic Pharmaceuticals  ALEM.NS  rise as much
as 2.7%; last up 1.8% to 1,262.9 rupees
    ** Co got U.S. FDA approval for Alcaftadine Ophthalmic
Solution, 0.25% - used in treatment of itchiness of eyes
    ** Stock up 5.7% this week, set for second straight weekly
gain
    ** ALEM, rivals Zydus Lifesciences  ZYDU.NS  and Lupin
 LUPN.NS  rated "hold" on avg
    ** ALEM up ~67% YTD, ZYDU and LUPN up ~56% and ~69%
respectively

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