Strength prevails in Aurobindo Pharma counter

Aurobindo Pharma rose 1.47% to Rs 162.50 at 11:42 IST on BSE, extending Wednesday's 1.71% rise triggered by the company receiving tentative approval from USFDA to manufacture and market its anti-AIDS medicine in the United States.

The company made the announcement during trading hours on Wednesday, 3 April 2013. Shares of Aurobindo Pharma rose 1.71% to Rs 160.15 on that day.

Meanwhile, the BSE Sensex was down 152.32 points, or 0.81%, to 18,649.32.

On BSE, 2.39 lakh shares were traded in the counter as against an average daily volume of 2.98 lakh shares in the past one quarter.

The stock hit a high of Rs 164.90 and a low of Rs 159.50 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 April 2013, falling 0.16% compared with the Sensex's 0.62% fall. The scrip had, however, underperformed the market in past one quarter, sliding 20.95% as against Sensex's 4.87% fall.

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

Aurobindo Pharma said it has received the tentative approval from United States Food and Drug Administration (USFDA) to manufacture and market its anti-AIDS combination drug Efavirenz/Emtricitabine and Tenofovir Disoproxil Fumarate Tablets, 600mg/200mg/300mg in the United States. The drug is a generic equivalent of Gilead Sciences Inc's Atripla Tablets 600mg/200mg/300mg and falls under the Anti-Retroviral (ARV) segment. It is indicated in combination with other antiretroviral agents for the treatment of HIV-1 infection in adults. This ANDA was reviewed under the expedited provisions of the President's Emergency Plan for AIDS relief (PEPFAR), Aurobindo said in a statement.

Aurobindo now has a total of 182 abbreviated new drug application (ANDA) approvals (156 final approvals including 2 from Aurolife Pharma LLC and 26 tentative approvals) from USFDA.

Last month, Aurobindo Pharma announced that the US drug regulator lifted import alert for non-sterile products manufactured in one of the company's Hyderabad facility. Quoting the US Food and Drug Administration (USFDA) website, Aurobindo Pharma said that the import alert for non-sterile products produced at its unit-VI cephalosporin facility in Hyderabad has been lifted, enabling resumption of exports of nine products to the US market.

Before the import alert was issued in February 2011, the unit had annual US sales of $33 million for the above mentioned products, Aurobindo Pharma said.

Aurobindo Pharma reported consolidated net profit of Rs 91.81 crore in Q3 December 2012, as against net loss of Rs 28.54 crore in Q3 December 2011. Net sales rose 22.8% to Rs 1551.95 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 manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, WHO, Health Canada, MCC South Africa, ANVISA Brazil. The company's robust 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.

Powered by Capital Market - Live News