Company news: Alembic Pharmaceuticals

Alembic Pharmaceuticals on Monday announced that its joint venture Aleor Dermaceuticals (Aleor) has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application Diclofenac Sodium Topical Solution USP, 2% w/w. The drug is indicated for the treatment of the pain of osteoarthritis of the knees. Diclofenac Sodium Topical Solution USP, 2% w/w has an estimated market size of $974 million for 12 months ending December 2018, according to IQVIA. Shares of Alembic Pharma closed 0.48 per cent higher at ₹554.90 on the BSE.