India's Alembic Pharma slides after US FDA issues observation on facility

Alembic Pharmaceuticals

10/03/2025 09:18

** Shares of Alembic Pharmaceuticals ALEM.NS down 2.8% to 821.1 rupees

** Co says the US Food and Drug Administration concludes inspection at co's bioequivalence facility at Vadodara and issued a Form 483 with a procedural observation

** Co did not specify the nature of the observation

** Stock set to snap six straight sessions of gains

** Stock trading below its 50-day, 100-day, 200-day simple moving avgs since Jan, indicating bearish sentiment

** Avg rating of ten analysts covering the stock is "hold" and median PT is 1,032 rupees, ~26% higher than current price - LSEG data

** ALEM gained 40.4% in 2024

 (Reporting by Anuran Sadhu in Bengaluru)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))