The shares of Alembic Pharmaceuticals gained as much as 6 per cent to Rs 943.80 on Tuesday.
Earlier today, the company announced it had received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Deferasirox Tablets, 180 mg.
The approved ANDA is therapeutically equivalent to the reference listed drug product, Jadenu tablets, 180 mg, of Novartis Pharmaceuticals. Deferasirox tablets are indicated for the treatment of chronic iron overload due to blood transfusions.
The estimated market size for this product is US$ 53 million for twelve months ending March 2020, according to IQVIA.