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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 across the globe.
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 DMF filings.
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.
