Alembic Pharma Scores Big Win with USFDA Approval Of Innovative Inflammatory Lesions Treatment

After the announcement, Alembic Pharmaceuticals' stock surged 2.3% on Friday, reaching an intraday peak of ₹900 per share on the BSE. According to Alembic Pharma's filing, the approved ANDA mirrors Galderma Laboratories' Oracea Capsules, providing a therapeutic equivalent at a 40 mg dosage. Specifically prescribed for treating inflammatory lesions like papules and pustules associated with rosacea in adults, the newly approved Doxycycline Capsules represent a significant addition to Alembic Pharma's portfolio.

According to IQVIA MAT data covering the 12 months ending March 2024, Alembic Pharmaceuticals' Doxycycline Capsules, 40 mg, achieved an estimated market size of USD 123 million in the United States. As of March 31, 2024, the Vadodara-based pharmaceutical company has amassed a cumulative total of 205 ANDA approvals from the USFDA, comprising 179 final approvals and 26 tentative ones. On Friday afternoon, Alembic Pharmaceuticals' shares remained steady, showing a slight increase of 0.3% to ₹883.05 per share on the BSE. 

For the quarter ending March 31, 2024, Alembic Pharmaceuticals reported robust financial performance with a notable 8% year-on-year increase in net sales to ₹1,517 crore. The company's net profit for the quarter also grew by 17% year-on-year to ₹178 crore. EBITDA for the fourth quarter of FY24 surged by 29% to ₹263 crore. In the full financial year 2023-24, Alembic Pharmaceuticals saw a 10% year-on-year rise in net sales, reaching ₹6,229 crore. The company's net profit for the fiscal year soared impressively by 80% year-on-year to ₹616 crore.