homemarket Newsstocks NewsAlembic Pharma shares surge on second USFDA nod for General Sterile facility

Alembic Pharma shares surge on second USFDA nod for General Sterile facility

The Ketorolac Tromethamine Injection USP has an estimated market size of $59 million for 12 months ending June 2022.

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By CNBCTV18.com Nov 3, 2022 5:53:05 PM IST (Published)

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Alembic Pharma shares surge on second USFDA nod for General Sterile facility

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Shares of Alembic Pharma gained over 7.5 percent on Thursday after receiving final approval from the USFDA for its anti-inflammatory Ketorolac Tromethamine Injection. The stock has now gained 20 percent over the last five trading sessions.

The pharmaceutical company received final approval from the USFDA for its Abbreviated New Drug Application (ANDA) for Ketorolac Tromethamine Injection USP, single-dose vials. The injection is used for short-term or less than five days of management of moderately severe acute pain in adults.

The Ketorolac Tromethamine Injection USP has an estimated market size of $59 million for 12 months ending June 2022, according to clinical research firm IQVIA.

The company will be considering its September quarter results on November 11.

Shares of Alembic Pharma ended 7.6 percent higher at Rs 658.50.

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