New Delhi, June 30 -- Shares of Alembic Pharmaceuticals soared more than 12 percent in intra-day trade on Monday, June 30, after the company announced that it had secured final approval from the US Food and Drug Administration (USFDA) for its generic version of Doxorubicin Hydrochloride Liposome Injection. The drug is used in the treatment of ovarian cancer, AIDS-related Kaposi's sarcoma, and multiple myeloma. The development marks yet another milestone in the company's growing US generics portfolio and sent investor sentiment soaring.

Alembic Pharmaceuticals, in its official press release, said it received final USFDA approval for its Abbreviated New Drug Application (ANDA) for Doxorubicin Hydrochloride Liposome Injection in two dosage ...