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Last Updated : Oct 04, 2019 11:30 AM IST | Source: Moneycontrol.com

Alembic Pharmaceuticals rises 3% after JV drug gets US approval

The company's joint venture Aleor Dermaceuticals has got USFDA approval for a spray to treat plaque psoriasis.

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Shares of Alembic Pharmaceuticals rose 3 percent intraday on October 4 after the company's joint venture received the USFDA’s approval for a spray used for treating plaque psoriasis.

Aleor Dermaceuticals (Aleor) has got the US Food and Drug Administration nod to for its abbreviated new drug application (ANDA) Clobetasol Propionate Spray, 0.05%.

ANDA is a therapeutically equivalent to the reference listed drug product, Clobex Spray, 0.05%, of Galderma Laboratories LP.

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Clobetasol Propionate Spray is used in the treatment of moderate to severe plaque psoriasis affecting up to 20 percent body surface area.

It had an estimated market size of $22 million for twelve months ending December 2018, according to IQVIA.

At 1109 hours, Alembic Pharmaceuticals was quoting at Rs 535, up Rs 9.45, or 1.80 percent, on the BSE.

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First Published on Oct 4, 2019 11:30 am
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