Aurobindo Pharma gains after receiving USFDA approval for Esmolol Hydrochloride injection

Aurobindo Pharma rose 0.69% to Rs 740.05 at 14:45 IST on BSE after the company announced that it has received final approvals from the US Food & Drug Administration to manufacture and market Esmolol Hydrochloride Injection.

The company made announcement during market hours today, 27 July 2015.

Meanwhile, the S&P BSE Sensex was down 458.76 points or 1.63% at 27,653.55.

On BSE, so far 97,713 shares were traded in the counter as against average daily volume of 1.49 lakh shares in the past one quarter.

The stock hit a high of Rs 743 and a low of Rs 722.70 so far during the day. The stock had hit record high of Rs 776.75 on 20 July 2015. The stock had hit 52-week low of Rs 329.40 on 30 July 2014.

The stock had outperformed the market over the past one month till 24 July 2015, rising 1.91% compared with Sensex's 1.38% rise. The scrip had also outperformed the market in past one quarter, gaining 14.29% as against Sensex's 2.46% gain.

The large-cap pharma company has equity capital of Rs 58.40 crore. Face value per share is Re 1.

Aurobindo Pharma announced that the company has received final approvals from the US Food & Drug Administration (USFDA) to manufacture and market Esmolol Hydrochloride Injection, 100mg/10mL (10mg/mL). Esmolol Hydrochloride Injection, 100mg/10mL (10mg/mL) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Brevibloc Injection, 10mg/mL of Baxter Healthcare Corporation. Esmolol Hydrochloride Injection is indicated for the short-term treatment of tachycardia and hypertension that occur during induction and tracheal intubation, during surgery, on emergence from anesthesia and in the postoperative period.

Aurobindo now has 13 abbreviated new drug application (ANDAs) (represented by 10 product classes) approved out of Unit IV formulation facility in Hyderabad, India for manufacturing general injectable products and will be marketed and sold by Aurobindo's wholly owned subsidiary AuroMedics Pharma LLC.

Aurobindo Pharma's consolidated net profit fell 19.5% to Rs 403.80 crore on 35.5% rise in total income to Rs 3168.81 crore in Q4 March 2015 over Q4 March 2014.

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