Alembic Pharma is beaming

Alembic Pharma is up today after two days of consecutive fall. It opened almost 2.5% higher at Rs.565 and went on hit an intraday high at Rs.568, a rise of almost 3%. Its 52-week high is at Rs.612.75 and low at Rs.435.10.

There was good news from the company. It stated that its JV firm, Aleor Dermaceuticals has completed the United States Food and Drug Administration (USFDA) inspection at its formulation manufacturing facility at Karakhadi without any observations.

The said inspection was carried out from January 6 to January 8, 2020 and was completed successfully without any observations.

Aleor Dermaceuticals is a 60:40 JV between Alembic Pharmaceuticals and Orbicular Pharmaceutical Technologies.

Getting a clean chit from the US FDA is most certainly a cause for cheer.