Aurobindo Pharma gains on USFDA nod for two generic drugs

The company made this announcement on Saturday, 4 May 2013.

Meanwhile, the BSE Sensex was up 51.54 points, or 0.26%, to 19,627.18.

On BSE, 94,397 shares were traded in the counter as against an average daily volume of 3.65 lakh shares in the past one quarter.

The stock hit a high of Rs 199.75 and a low of Rs 196.75 so far during the day. The stock had hit a 52-week high of Rs 204.90 on 7 January 2013. The stock had hit a 52-week low of Rs 99.65 on 10 August 2012.

The stock had outperformed the market over the past one month till 3 May 2013, rising 22.73% compared with the Sensex's 4.12% rise. The scrip had also outperformed the market in past one quarter, gaining 2.4% as against Sensex's 1.04% fall.

The mid-cap pharma company has an equity capital of Rs 29.12 crore. Face value per share is Rs 1.

Aurobindo Pharma that one of the two generic drugs is indicated for the treatment of symptoms of an enlarged prostate (Benign Prostatic Hyperplasia - BPH) in men. The drug had sales of $244 million in the United States for the twelve months ended September 2012 as per IMS data.

The other drug is indicated for indicated in the treatment of serious infections caused by susceptible anaerobic bacteria in infants. This drug had sales of $57 million in the United States for the twelve months ended September 2012 as per IMS data.

Aurobindo now has 190 abbreviated new drug application (ANDA) approvals from USFDA, which includes 163 final approvals including 4 from Aurolife Pharma LLC and 27 tentative approvals.

Aurobindo's consolidated net profit jumped 421.7% to Rs 91.82 crore on 22.2% rise in total income to Rs 1575.73 crore in Q3 December 2012 over Q3 December 2011.

Aurobindo Pharma, headquartered at Hyderabad in Andhra Pradesh, manufactures generic pharmaceuticals and active pharmaceutical ingredients (APIs). The company's product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, and Anti-Allergics. The company is marketing these products globally, in over 125 countries.

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