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Alembic Pharma gets USFDA green light for heart drug

Business

Alembic Pharmaceuticals just got USFDA approval for its Diltiazem Hydrochloride Tablets—used to manage high blood pressure and chest pain.
The approved tablets come in four strengths (30mg, 60mg, 90mg, and 120mg) and are basically the generic version of Cardizem from Bausch Health.

Milestone for Alembic, but shares still slide

This marks Alembic's 230th USFDA approval—a big deal as they keep expanding in the US generic drug market.
Still, even with this win, their shares dipped by 1.28% on Friday and have dropped about 14% so far this year.
Business wins don't always mean instant stock boosts!