Alembic Pharmaceuticals witnessed a rise in share price on Thursday after the company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Amantadine Hydrochloride Capsules, USP, 100mg.

The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Symmetrel Capsules, 100mg, of Endo Pharmaceuticals Inc. Amantadine Hydrochloride Capsules have an estimated market size of USD 37 million for twelve months ending December 2016, according to IMS.

Shares of Alembic Pharmaceuticals are trading at Rs 540.00, up Rs 8.1, or 1.52% at the Bombay Stock Exchange (BSE) on Thursday at 10:22 a.m.

The scrip has touched an intra-day high of Rs 543.80 and low of Rs 538.05. The total volume of shares traded at the BSE is 2,913.

Total volume of shares traded on the bourses today was lower by 70.83% to 17,966 compared with 22-day average volume of 61,592.