Aurobindo Pharma surges 8% on USFDA nod for Sevelamer Carbonate tablets

In past one month, the stock has outperformed the market by surging 21% against 1.64% gain in Sensex

Aurobindo Pharma surged 8% to Rs 795 on BSE in intra-day trade after the company announced that it has received final approval from the US Food and Drug Administration (USFDA) to manufacture Sevelamer Carbonate tablets, a kidney disease drug.

“The company has received final approval from the US Food and Drug Administration (USFDA) to manufacture Sevelamer Carbonate tablets 800mg,” Aurobindo Pharma said in a press release.

Sevelamer Carbonate tablets, a therapeutic equivalent generic version of Genzyme’s Renvela tablets. The product will be launched immediately, it added.

Sevelamer Carbonate tablets is indicated for the control of serum phosphorus