Aurobindo Pharma scales record high

Aurobindo Pharma rose 3.3% to Rs 1,441.85 at 15:25 IST on BSE, with the stock extending recent gains.

Meanwhile, the S&P BSE Sensex was down 130.40 points or 0.47% at 27,673.97

On BSE, so far 2.26 lakh shares were traded in the counter as against average daily volume of 1.35 lakh shares in the past one quarter.

The stock hit a record high of Rs 1,461.85 in intraday trade today, 24 June 2015. The stock hit a low of Rs 1,410.15 so far during the day. The stock had hit a 52-week low of Rs 644.65 on 10 July 2014.

The stock had outperformed the market over the past one month till 23 June 2015, rising 2.48% compared with 0.55% fall in the Sensex. The scrip also outperformed the market in past one quarter, gaining 21.29% as against Sensex's 1.38% fall.

The large-cap pharma company has equity capital of Rs 29.20 crore. Face value per share is Re 1.

Shares of Aurobindo Pharma are on a roll recently, gaining 12.92% in seven trading days from a recent low of Rs 1,276.85 on 15 June 2015. The gains caught momentum after the company announced securing US Food and Drug Administration (USFDA) approvals for two generic drugs on 22 June 2015.

Aurobindo Pharma got USFDA approval to manufacture and market Azithromycin for injection USP, 500 mg/vial. Azithromycin for Injection USP, 500mg /vial is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Zithromax (Azithromycin for Injection) 500mg/vial of Pfizer, Inc. Azithromycin for injection, USP is a macrolide antibacterial drug indicated for the treatment of patients with infections caused by susceptible strains of the designated microorganisms in the conditions such as Community-Acquired Pneumonia and Pelvic Inflammatory Disease, Aurobindo Pharma said in a statement.

Separately, Aurobindo Pharma said that the company has received final approval from USFDA to manufacture and market Entacapone tablets USP, 200mg. The product will be launched soon, Aurobindo Pharma said. The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Comtan Tablets 200mg of Orion Corporation. Entacapone Tablets are used in the treatment of Parkinson's disease and had estimated market size of $59 million in the United States for the twelve months ended April 2015, according to IMS data, Aurobindo Pharma said.

On 15 June 2015, Aurobindo Pharma said the company has received the final approval from the US Food & Drug Administration to manufacture and market Extended Phenytoin Sodium Capsules USP, 100mg.

Aurobindo Pharma's consolidated net profit dropped 19.5% to Rs 403.80 crore on 36.3% growth in net sales to Rs 3143.97 crore in Q4 March 2015 over Q4 March 2014.

Aurobindo Pharma, headquartered at Hyderabad, manufactures generic pharmaceuticals and active pharmaceutical ingredients (APIs).

Powered by Capital Market - Live News