Aurobindo Pharma gains after receiving USFDA approval for Valsartan Tablets

Aurobindo Pharma rose 1.44% to Rs 1,104 at 9:40 IST on BSE after the company announced that it has received final approval from the USFDA to manufacture and market Valsartan Tablets.

The company made announcement after market hours yesterday, 6 January 2015.

Meanwhile, the BSE Sensex was up 8.64 points, or 0.03%, to 26,996.10.

On BSE, so far 37,367 shares were traded in the counter, compared with an average volume of 48,000 shares in the past two weeks.

The stock of pharma company hit a high of Rs 1,118.50 and a low of Rs 1,102.20 so far during the day. The stock hit a 52-week high of Rs 1,171.20 on 9 December 2014. The stock hit a 52-week low of Rs 375 on 13 January 2014.

Aurobindo Pharma announced that the company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Valsartan Tablets USP, 40mg, 80mg, 160mg and 320mg. The product is ready for launch, Aurobindo Pharma said.

The company's consolidated net profit rose 58.4% to Rs 372.18 crore on 51.6% rise in total income to Rs 2908.51 crore in Q2 September 2014 over Q2 September 2013.

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