Alembic Pharmaceuticals said on Monday that it has received approval from the US Food and Drug Administration to market a generic medication for treating moderate-to-severe scalp psoriasis.
The company has been granted final approval for its abbreviated new drug application for Betamethasone Valerate Foam. This generic product is therapeutically equivalent to Luxiq Foam (0.12%), produced by Norvium Bioscience, LLC.
Betamethasone valerate foam is a topical corticosteroid indicated for relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses of the scalp.
Alembic Pharmaceuticals' stock rose as much as 5.14% during the day to Rs 1,157.90 apiece on the NSE. It closed 0.52% lower at Rs 1,095.55 per share, as compared with a 0.76% advance in the benchmark Nifty 50. It has risen 46.05% in the last 12 months and 43.04% year-to-date.
(With Inputs From PTI)
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
