Alembic Pharmaceuticals has received US Food & Drug Administration (USFDA) approval for its following Abbreviated New Drug Applications (ANDAs):

1. Final Approval for Deferasirox Tablets 90 mg and 360 mg.
2. Final Approval for Deferasirox Tablets for Oral Suspension, 125 mg, 250 mg, and 500 mg.
3. Tentative Approval for Deferasirox Tablets 180 mg.

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The company received final approval from the USFDA for Deferasirox tablets 90/360 mg (equivalent to Novartis Pharmaceuticals' Jadenu tablets). According to IQVIA, the drug had a market size of $415 million for 12-months ended December 2018.

The firm also received final approval for Deferasirox tablets for oral suspension 125/250/500 mg (equivalent to Novartis Pharmaceuticals' Exjade tablets). It had a market size of $135 million for 12-months ended December 2018.

Further, it received tentative approval for Deferasirox tablets 180 mg (equivalent to Novartis Pharmaceuticals' Jadenu tablets). It had a market size of $59 million for 12-months ended December 2018.

Deferasirox tablets are used in treatment of chronic iron overload to blood ending transfusions in patients 2 years of age and older.

Alembic now has a total of 107 ANDA approvals (95 final approvals and 12 tentative approvals) from USFDA.

Shares of Alembic Pharmaceuticals were trading 0.96% higher at Rs 551.75 on BSE. The stock surged 10.27% in three months as compared to a 4.89% rise in Nifty Pharma index.

Meanwhile the NSE Nifty 50 index was trading 0.47% lower at 11,911.90.

Alembic Pharmaceuticals is a vertically integrated research and development pharmaceutical company.

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Zensar Technologies Ltd, Interglobe Aviation Ltd, ERIS Lifesciences Ltd, Sudarshan Chemical Industries Ltd are among the other stocks to see a surge in volumes on NSE today, 25 October 2019.

Alembic Pharmaceuticals Ltd witnessed volume of 8.75 lakh shares by 14:14 IST on NSE, a 25.81 times surge over two-week average daily volume of 33902 shares. The stock dropped 0.53% to Rs.540.00. Volumes stood at 45884 shares in the last session.

Zensar Technologies Ltd saw volume of 10.29 lakh shares by 14:14 IST on NSE, a 11.71 fold spurt over two-week average daily volume of 87848 shares. The stock dropped 0.74% to Rs.186.95. Volumes stood at 2.39 lakh shares in the last session.

Interglobe Aviation Ltd registered volume of 98.62 lakh shares by 14:14 IST on NSE, a 10.34 fold spurt over two-week average daily volume of 9.54 lakh shares. The stock slipped 10.82% to Rs.1,484.80. Volumes stood at 11.58 lakh shares in the last session.

ERIS Lifesciences Ltd clocked volume of 4.67 lakh shares by 14:14 IST on NSE, a 9.65 times surge over two-week average daily volume of 48369 shares. The stock lost 2.70% to Rs.420.05. Volumes stood at 18332 shares in the last session.

Sudarshan Chemical Industries Ltd saw volume of 6.07 lakh shares by 14:14 IST on NSE, a 6.88 fold spurt over two-week average daily volume of 88288 shares. The stock increased 5.60% to Rs.397.75. Volumes stood at 27875 shares in the last session.

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Net profit of Alembic Pharmaceuticals rose 23.09% to Rs 246.27 crore in the quarter ended September 2019 as against Rs 200.07 crore during the previous quarter ended September 2018. Sales rose 10.10% to Rs 1240.87 crore in the quarter ended September 2019 as against Rs 1127.06 crore during the previous quarter ended September 2018.

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