Alembic Pharmaceuticals rose 1.02% to Rs 507.05 after the pharma company received an Establishment Inspection Report (EIR) from the US drug regulator for the inspection carried out at its injectable facility at Karkhadi.
The US Food and Drug Administration (USFDA) conducted the pre-approval inspection from 18 August 2022 to 30 August 2022, for ANDAs filed by the company.The company said that it has already started receiving ANDA approvals manufactured at Karkhadi facility.
Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company. The company manufactures and markets generic pharmaceutical products all over the world.
The drug maker reported 29% drop in consolidated net profit to Rs 121.92 crore despite a 18.7% rise in net sales to Rs 1509.02 crore in Q3 FY23 over Q3 FY22.
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