Moneycontrol Bureau
Alkem Laboratories shares advanced more than 1 percent intraday Tuesday on approval from the US health regulator for anti-migraine drug.
Alkem has received approval from the US Food and Drug Administration for Rizatriptan Benzoate OD tablets or Maxalt generic.
The drug is used to treat pain and other migraine symptoms.
Other companies like Aurobindo Pharma, Jubliant Life and Glenmark Pharma already received USFDA approval for this drug.
Analysts say the market size of this drug is around USD 100 million.
On December 30, Alkem received approval for drug Gabapentin that is used to treat nerve pain caused by herpes virus or shingles.
At 11:50 hours IST, the scrip of Alkem Laboratories was quoting at Rs 1,293.00, up Rs 7.00, or 0.54 percent on the BSE.Posted by Sunil Shankar Matkar
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