Alembic Pharma jumps 4% on US FDA approves anti-seizure drug worth $163 million

The tablets are approved for use in patients 13 years and older with generalized tonic-clonic and partial-onset seizures. The estimated market value for Lamotrigine Extended-Release Tablets is approximately $163 million for the year ending June 2024, according to IQVIA.

Alembic Pharma now holds 216 ANDA approvals from the USFDA, including 188 final and 28 tentative approvals.

Last month, international brokerage HSBC upgraded Alembic Pharmaceuticals shares to 'hold' and raised its target price from Rs 1,010 to Rs 1,130 per share. The brokerage said that Alembic's improved US regulatory filings and growing portfolio of differentiated products could support long-term US sales growth.

However, HSBC emphasized that strong execution will remain crucial for Alembic to achieve a significant pickup in U.S. sales.

Shares of Alembic Pharmaceuticals jumped 56 percent over the past 12 months, significantly outperforming the Nifty 50 index that gained around 31 percent during the same time period.

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