Aurobindo Pharma gains strength after receiving USFDA nod for two products

Shares of Aurobindo Pharma have strengthened by 1%  to Rs 794.55 on the Bombay Stock Exchange (BSE) after the pharma company received US Food and Drug Administration (USFDA)approval to manufacture and market two drugs- Eptifibatide Injection and Levonorgestrel Tablet.

Eptifibatide Injection is used in the treatment of acute coronary syndrome while Levonorgestrel Tablet is an oral contraceptive for women that can be used for prevention of pregnancy.

The drug company will launch Eptifibatide Injection this month and is an equivalent of Integrilin Injection.

The company in a filing to the BSE said that Eptifibatide Injection has an estimated market size of US$137 million for the twelve months ending October 2015 while Levonorgestrel Tablet has an estimated market size of US$64 million for the twelve months ending October 2015.

The stock touched a high of Rs 806.05 in the morning trades. At 11:45 am, a combined total of 727,177 shares changed hands on the counter of NSE and BSE.