Alembic Pharmaceuticals saw a rise in its share price today after announcing that it had received final approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for Diltiazem Hydrochloride Extended-Release Capsules. The approval covers doses of 120 mg, 180 mg, and 240 mg.
These capsules are commonly prescribed for managing hypertension and can be used either as a standalone treatment or alongside other antihypertensive medications like diuretics. According to market research firm IQVIA, the estimated market size for Diltiazem Hydrochloride Extended-Release Capsules stands at $28.2 million for the twelve months ending June 2024.
With this approval, Alembic Pharmaceuticals has secured a total of 217 ANDA approvals from the FDA, including 190 final and 27 tentative approvals.
At 9:50 am, Alembic Pharmaceuticals’ shares were trading 1.03% higher, reaching ₹1,172.20 on the NSE, reflecting positive investor sentiment following this regulatory milestone.
