Aurobindo Pharma in the pink of health

Aurobindo Pharma rose 3.38% to Rs 785 at 10:30 IST on BSE after the company said it has received final approval from the US Food and Drug Administration to manufacture and market Rosuvastatin Calcium Tablets in four strengths.

The announcement was made during market hours today, 20 July 2016.

Meanwhile, the S&P BSE Sensex was up 71.42 points or 0.26% at 27,859.04.

On BE, so far 1 lakh shares were traded in the counter as against average daily volume of 1.19 lakh shares in the past one quarter. The stock hit a high of Rs 787.75 and a low of Rs 769.55 so far during the day. The stock had hit a record high of Rs 891.50 on 30 December 2015. The stock had hit a 52-week low of Rs 582 on 25 February 2016. The stock had outperformed the market over the past one month till 19 July 2016, advancing 4.5% compared with Sensex's 4.36% rise. The scrip had, however, underperformed the market in past one quarter, sliding 3.06% as against Sensex's 7.64% rise.

The large-cap company has equity capital of Rs 58.52 crore. Face value per share is Rs 1.

Aurobindo Pharma secured final approval from the United States Food and Drug Administration (USFDA) to manufacture and market Rosuvastatin Calcium Tablets, 5 mg (base), 10 mg (base), 20 mg (base) and 40 mg (base). Aurobindo is eligible for 180 days of generic drug shared exclusivity. The product is launched in the US market.

The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) CRESTOR (rosuvastatin calcium) Tablets 5 mg, 10 mg, 20 mg and 40 mg of IPR Pharmaceuticals Inc.

Rosuvastatin Calcium Tablets is an antihyperlipidemic to prevent cardiovascular disease. The approved product has an estimated market size of $6.7 billion in the United States for the twelve months ended May 2016 according to IMS.

On consolidated basis, Aurobindo Pharma's net profit rose 39.4% to Rs 562.85 crore on 16.9% growth in net sales to Rs 3674.70 crore in Q4 March 2016 over Q4 March 2015.

Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company's manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, Japan PMDA, WHO, Health Canada, MCC South Africa, ANVISA Brazil. The company's robust product portfolio is spread over 7 major therapeutic/product areas encompassing antibiotics, anti-retrovirals, CVS, CNS, gastroenterologicals, anti-allergies and anti-diabetics, supported by an outstanding R&D set-up. The company is marketing these products globally, in over 150 countries.

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