Shares of Alembic Pharmaceuticals and Torrent Pharmaceuticals have rallied by up to 11% in intra-day trade after the US Food and Drug Administration (FDA) approved the first generic versions of Abilify (aripiprazole).
Torrent Pharmaceuticals has rallied 11% to Rs 1,323 and Alembic Pharma surged 10% to Rs 498 on the National Stock Exchange (NSE) in intra-day trade.
Generic aripiprazole is an atypical antipsychotic drug approved to treat schizophrenia and bipolar disorder.
“Alembic Pharmaceuticals Ltd., Hetero Labs Ltd., Teva Pharmaceuticals and Torrent Pharmaceuticals Ltd. have received FDA approval to market generic aripiprazole in multiple strengths and dosage forms,” US FDA said in a news release.
At 1044 hours, Alembic Pharma was up 6% at Rs 479, while Torrent Pharma by 5% at Rs 1,248 on the NSE. Sun Pharmaceuticals Industries was up nearly 1% at Rs 933.