INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of Alembic Pharma jumped 6 per cent in Thursday’s trade after the drug firm said its joint venture firm
Aleor-Dermaceuticals has successfully completed the inspection of Karakhadi facility in Gujarat by the US health regulator.
Aleor
Dermaceuticals is a 60:40 Joint Venture (JV) between Alembic Pharmaceuticals and Orbicular Pharmaceutical Technologies.
Following the
development, the stock rose 6.23 per cent to hit a high of Rs 450.15 on BSE.
The JV has completed the United States Food and Drug
Administration (USFDA) inspection at its formulation manufacturing facility at Karakhadi without any observations, the company said in a
filing to BSE.
The inspection was carried out from January 6-8.
Alembic Pharma manufactures and markets generic pharmaceutical products
The company has 6 formulation and three API manufacturing facilities.
Of the 6 facilities, five facilities are located near Vadodara in
Gujarat - three at Panelav and two at Karakhadi
One facility is located in Sikkim
Alembic currently manufactures general oral solids in Panelav and is in the process of putting up Oncology oral solids and Oncology
injectable facilities at the same location.
The company has started investing in the international generics market with successful ANDA and
It has filings across Canada, Europe, Australia, South Africa and Brazil
The company caters to the rest of the world markets through branded formulation sales.
