Alembic Pharmaceuticals announced that Aleor Dermaceuticals (Aleor), a 60:40 Joint Venture (JV) between Alembic Pharmaceuticals and Orbicular Pharmaceutical Technologies (Orbicular), has successfully cleared its first United States Food and Drugs Administration (USFDA) inspection of its new formulation manufacturing facility located at Karakhadi, Gujarat, India; without any observations.

Aleor was formed in April 2016 to develop, manufacture and commercialise dermatology products for worldwide markets. Till date Aleor has filed 6 ANDAs.

''We are very pleased to see Aleor make tremendous progress since inception and congratulate the entire team at Aleor for successfully clearing its first inspection", said Pranav Amin, Managing Director of Alembic.

Shares of the company gained Rs 11.9, or 1.96%, to trade at Rs 620.00. The total volume of shares traded was 499 at the BSE (9.30 a.m., Monday).