Aurobindo Pharma slips after gaining 7% this week

Shares have dropped 2% to Rs 158

Aurobindo Pharma has slipped 2.5% this afternoon after gaining as much as 7% this week.

Aurobindo Pharma during trading hours on Wednesday, 3 April 2013, 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.

The stock is down 2.6% at Rs 158 on the Bombay Stock Exchange. Earlier in the day it had touched a low of Rs 155. Around 5,40,00 shares have been traded on the BSE so far, as against a two week daily traded average of 5,87,000 shares.