Alembic Pharma fell 18% to Rs.713.70 after it published a small report stating that its business showed a degrowth.

The company said that it  has shown a de-growth of -8% & -12% respectively due to Anti-infective segment having higher· base in April 21 & May 21 (Second Covid wave effect) which got normalized in current year April 22 and May 22.

It further stated that Alembic's Branded Business Ex-Azithromycin has shown growth of +8% & +14% in April 22 & May 22 respectively (v/s 1PM de-growth of -9% and -5% ex of Azithromycin).

The one positive news in the report -  Alembic's speciality segments continue to show a robust momentum on the back enhanced operational momentum and strong new product launches