Alembic Pharma share price rises after US FDA nod to metolazone tablets

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Alembic Pharmaceuticals share price gained 2 percent intraday on December 3 after the company received the US health regulator's nod for metolazone tablets used to reduce swelling and water retention caused by heart failure or kidney diseases.

The company received Food & Drug Administration's final approval for metolazone tablets USP 2.5 mg, 5 mg, and 10 mg, it said in an exchange filing.

The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD), zaroxolyn Tablets 2.5 mg, 5 mg, and 10 mg, of Lannett Company Inc.

Metolazone is indicated for the treatment of salt and water retention, including edema accompanying congestive heart failure and renal diseases, including the nephrotic syndrome and states of diminished renal function, the company added.

Alembic has a cumulative 137 ANDA approvals (118 final approvals and 19 tentative approvals) from USFDA.

The stock was trading at Rs 1,011.95, up Rs 18.50, or 1.86 percent, at 1105 hours. It has touched an intraday high of Rs 1,016 and an intraday low of Rs 994.50.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long term moving averages. The company's book value per share has been improving for last 2 years. FII / FPI or institutions are also increasing their shareholding.

Moneycontrol technical rating is very bullish, with moving averages and technical indicators being bullish.