Aurobindo surges 5% after deal with Pfizer

Aurobindo pharma today surged as much as five per cent on bourses, a day after the domestic drug maker entered into multiple agreements with US-based Pfizer to sell generic medicines in the US and Europe.

The agreement was part of expanding Pfizer's Established Products Business Units (EPBU), which is an arm of the multinational drug firm, which focuses on commercialisation of those drugs whose market exclusivity and patents have expired.

On the Bombay Stock Exchange, the scrip opened firm at Rs 161.90 and soon touched the day's high at Rs 164.90, up 5.67 per cent from its previous close.

On the National Stock Exchange, Aurobindo pharma opened at Rs 159.80 then went up 4.85 from its previous close to touch the day's high of Rs 164.

On the volume front good movement was witnessed as over 1.33 lakh shares exchanged hands on NSE and 33.63 thousand shares got traded on BSE.

The scrip was later trading at Rs 162.90, up 4.16 per cent on the NSE and was quoted at Rs 162.90, up 4.39 per cent on the BSE.