Alembic Setting Up For US Oncology Play
Alembic Pharmaceuticals, which has seen a dazzling FY16, appears set to build on its strong showing in the US with plans for filings in the oncology and dermatology space and a potential ramp up of its own label products there.
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Shares of Alembic Pharmaceuticals spurted on Indian bourses on April 21 after the firm said that it had formed a joint venture with the privately held Orbicular Pharmaceutical Technologies and one of its founders, Dr MS Mohan, for dermatology products.
India's Alembic Pharmaceuticals has put in place its core leadership team in the US, which includes two ex-Sandoz officials, as it moves towards setting up its own front-end there.
Shares of Alembic Pharmaceuticals surged on Indian bourses, after the US FDA cleared the first set of generic versions of Otsuka's schizophrenia and bipolar disorder drug Abilify (aripiprazole).