Alkem Laboratories has made headlines with two significant developments: a GST demand and the launch of a breakthrough cancer treatment.

GST Demand and Penalty

Alkem Laboratories has received a GST appeal order demanding Rs. 35.11 crore along with a penalty of Rs. 3.51 crore. The pharmaceutical company has announced its intention to contest this order, signaling a potential legal challenge ahead.

Innovative Treatment for HER2-Positive Breast Cancer

In a separate development, Alkem has launched Pertuza, a pertuzumab biosimilar, for HER2-positive breast cancer in India. This marks a crucial step towards improving accessibility and affordability of advanced cancer treatments in the country.

Pertuza, an injection of 420mg/14mL, is an indigenously-developed and manufactured biosimilar of pertuzumab. The drug has demonstrated equivalence in efficacy, safety, and immunogenicity to the reference product in a pivotal phase 3 clinical trial conducted by Alkem's biotech subsidiary.

Addressing Accessibility Challenges

Dr. Vikas Gupta, Chief Executive Officer of Alkem, emphasized the importance of this launch, stating, "Breast cancer is the most common cancer among Indian women, and addressing its growing burden requires treatments that are effective, accessible and affordable." The company aims to make this critical therapy available to thousands of women each year who would otherwise be excluded due to cost barriers.

Strengthening Oncology Portfolio

The introduction of Pertuza further solidifies Alkem's position in the oncology sector. The company's growing portfolio includes other key products such as:

• Cetuximab biosimilar
• Denosumab biosimilar
• Bevacizumab biosimilar
• Romiplostim biosimilar

About Alkem Laboratories

Alkem Laboratories, with a 50-year legacy, stands as the fifth largest pharmaceutical company in the Indian market. The company boasts:

• 19 state-of-the-art manufacturing facilities
• Cutting-edge research and development (R&D) centers across India and the US
• A strong presence in therapy areas including anti-infectives, gastrointestinal, pain management drugs, and supplements
• A growing portfolio in chronic therapies such as diabetes, neurology, cardiology, dermatology, and urology

With the motto "Inspiring Healthier Lives," Alkem continues to reinforce its commitment to global health improvement through innovative and accessible medical solutions.

Financial Performance

In its latest quarterly results, Alkem Laboratories reported strong financial performance:

Despite the positive results, the company's shares ended 1% lower at ₹5,486.00 on the NSE.

The launch of Pertuza represents a significant step forward in Alkem's mission to combine scientific excellence with wider access to critical therapies, potentially benefiting numerous patients across India. However, the company now faces the challenge of addressing the GST demand while continuing its efforts in medical innovation and accessibility.

Alkem Laboratories , a prominent player in the pharmaceutical industry, has made several key announcements following the approval of its audited financial results for the quarter and financial year ended March 31, 2022.

Dividend Declaration

The Board of Directors has recommended a final dividend of Rs 4.00 per equity share with a face value of Rs 2.00 each. This dividend payout is subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Annual General Meeting and Record Date

Alkem Laboratories has scheduled its 48th AGM for August 25, 2022. The company has set August 10, 2022, as the record date for determining shareholder eligibility for the dividend payment. Pending shareholder approval, the dividend is slated to be paid out from August 30, 2022.

Reappointment of Managing Director

In a significant move, the Board has approved the reappointment of Sandeep Singh as the Managing Director of Alkem Laboratories. Subject to shareholder approval, Singh's new term will extend for five consecutive years, from October 17, 2022, to October 16, 2027. This reappointment underscores the company's confidence in Singh's leadership and vision for the future.

Financial Results and Auditor's Opinion

The company's auditors have expressed an unmodified opinion on both the standalone and consolidated financial results for the period under review. This clean audit report reflects positively on Alkem Laboratories' financial practices and transparency.

While specific financial figures were not disclosed in this announcement, the unmodified auditor's opinion suggests that the financial statements fairly represent the company's financial position and performance in accordance with the applicable accounting standards.

Shareholders and investors of Alkem Laboratories should mark their calendars for the upcoming AGM, where they will have the opportunity to vote on these important matters, including the dividend payout and the reappointment of the Managing Director.