Aurobindo Pharma surges as USFDA lifts import alert from mfg unit

Aurobindo Pharma has surged over 5% to Rs 137 after the pharmaceutical company said that the US Food and Drug Administration’s (USFDA) has lifted the import alert for non-sterile products manufactured in its UNIT-VI cephalosporin facility based in Hyderabad.

“USFDA as per their website update has lifted the import alert for non-sterile products manufactured in its UNIT-VI cephalosporin facility based in Hyderabad, India, thereby, paving the way for resumption of exports of 9 products to the US market,” Aurobindo Pharma said in a regulatory filing.

The import alert was earlier imposed in February 2011. Prior to import alert, the Unit was having annual US sales of $33 million for the said products, it added.

The stock opened at Rs 131 and hit a high of Rs 139 on NSE. As many as a combined 1.7 million shares have already changed hands on the counter till 1118 hours against an average sub 300,000 shares that were traded daily in past two weeks on NSE and BSE.