Shares of Amneal Pharmaceuticals (NYSE:AMRX) have been under selling pressure over the past month with fall of 18%.
Trading Data
On Friday, AMRX stock gained 0.65% to $4.62 with 745k shares, compared to its average volume of 1.03 million shares. The stock has moved within a range of $4.5300 – 4.7150 after opening trade at $4.53.
FDA Approves Difluprednate Ophthalmic Emulsion by Amneal Pharmaceuticals
Amneal Pharmaceuticals (NYSE:AMRX) announced on November 19, 2021 that it has been granted Abbreviated New Drug Application (ANDA) approval from the U.S. Food and Drug Administration (FDA). The green light is for difluprednate ophthalmic emulsion 0.05% – the generic version of Durezol. It is utilized for treating inflammation and pain associated with ocular surgery.
Chirag and Chintu Patel, Co-Chief Executive Officers, say that the approval of difluprednate, a complex ophthalmic suspension product has allowed them to shift company portfolio to increasingly complex and more differentiated product areas. They are hopeful of a fruitful journey in R&D areas as well. As per IQVIA, U.S. annual sales for Durezoland its generic equivalents in the 12 months ended September 2021 were approximately $103 million!
There are minor effects associated with Difluprednate Ophthalmic Emulsion, 0.05%, such as increase the hazard of secondary ocular infections, and delay in healing with the increase in the incidence of bleb formation. If used without proper supervision on a prolonged basis, it can result in glaucoma, damage to the optic nerve, defects in visual acuity, and fields of vision. Those with fungal disease of ocular structures, viral diseases of the cornea and conjunctiva; and Mycobacterial infection of the eye, should steer clear as well.
Technical Data
AMRX stock is trading below the 20-Day and 50-Day Moving averages of $5.15 and $5.34 respectively. Moreover, the stock is below above 200-Day moving average of $5.48. The stock is down 18% in the past month.
