Aurobindo Pharma rose 1.42% to Rs 1,342 at 12:52 IST on BSE after the company received final approvals from the US Food & Drug Administration to manufacture and market Atracurium Besylate Injection.
The announcement was made during market hours today, 9 April 2015.
Meanwhile, the BSE Sensex was up 73.40 points, or 0.26%, to 28,781.15
On BSE, so far 1.41 lakh shares were traded in the counter, compared with an average volume of 1.21 lakh shares in the past one quarter.
The stock hit a high of Rs 1,354 and a low of Rs 1,302 so far during the day. The stock had hit a record high of Rs 1,382.25 yesterday, 8 April 2015. The stock hit a 52-week low of Rs 528 on 17 April 2014.
The stock had outperformed the market over the past one month till 8 April 2015, rising 21.17% compared with 2.52% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 17.38% as against Sensex's 5.25% rise.
The large-cap company has an equity capital of Rs 29.20 crore. Face value per share is Re 1.
Aurobindo Pharma said that the company has received final approvals from the US Food & Drug Administration (USFDA) to manufacture and market Atracurium Besylate Injection, 10mg/mL, 5mL single-dose vials (ANDA 206010) and 10mg/mL, 10mL multi-dose vials (ANDA 206011). The approved ANDAs are bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Atracurium Besylate Injections USP of Eurohealth International Sarl, Aurobindo Pharma said. Atracurium Besylate Injections are indicated as an adjunct to general anesthesia, to facilitate endotracheal intubation and to provide skeletal muscle relaxation during surgery or mechanical ventilation, the company said.
Aurobindo now has 11 ANDAs (represented by 8 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
On a consolidated basis, Aurobindo Pharma's net profit declined 7.9% to Rs 384.35 crore on 49.3% growth in total income to Rs 3202.08 crore in Q3 December 2014 over Q3 December 2013.
Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients.
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