Moneycontrol
Last Updated : Oct 22, 2018 01:51 PM IST | Source: Moneycontrol.com

Alembic Pharma gains nearly 2% on successfully clearing first USFDA inspection

The scheduled inspection was carried out between October 15 and 19, 2018.

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Shares of Alembic Pharmaceuticals added nearly 2 percent in the early trade on Monday after successfully clearing the first USFDA inspection.

Aleor Dermaceuticals, a 60:40 joint venture between Alembic Pharmaceuticals and Orbicular Pharmaceutical Technologies, has successfully cleared its first United States Food and Drugs Administration (USFDA) inspection of its new formulation manufacturing facility located at Karakhadi, Gujarat, India; without any observations, company said in release.

The scheduled inspection was carried out between October 15 and 19, 2018.

Pranav Amin, Managing Director of Alembic said, "We are very pleased to see Aleor make tremendous progress since inception and congratulate the entire team at Aleor for successfully clearing its first inspection."

Alembic Pharma's Q2 consolidated net profit rose 64.6 percent at Rs 200.1 crore against Rs 121.6 crore in the same quarter last year.

Revenue was up 42.8 percent at Rs 1,127 crore versus Rs 789.3 crore.

Operating profit or EBITDA jumped 68.8 percent at Rs 302.3 crore, while margin was up at 26.8 percent.

At 09:16 hrs Alembic Pharmaceuticals was quoting at Rs 619.35, up Rs 11.25, or 1.85 percent on the BSE.

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First Published on Oct 22, 2018 01:35 pm
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