Aurobindo Pharma rose 1.16% to Rs 1,291.60 at 12:32 IST on BSE after the company said it has received the final approval from the US Food & Drug Administration to manufacture and market Extended Phenytoin Sodium Capsules USP, 100mg.
The announcement was made after market hours yesterday, 15 June 2015.
Meanwhile, the S&P BSE Sensex was down 89.26 points or 0.34% at 26,497.29.
On BSE, so far 41,000 shares were traded in the counter as against average daily volume of 1.40 lakh shares in the past one quarter.
The stock was volatile. The stock rose as much as 2.59% at the day's high of Rs 1,310 so far during the day. The stock rose 0.55% at the day's low of Rs 1,283.95 so far during the day. The stock had hit a record high of Rs 1,432.10 on 17 April 2015. The stock had hit a 52-week low of Rs 644.65 on 10 July 2014.
The stock had underperformed the market over the past one month till 15 June 2015, sliding 5.54% compared with Sensex's 2.7% fall. The scrip had, however, outperformed the market in past one quarter, advancing 11.35% as against Sensex's 6.72% fall.
The large-cap pharma company has equity capital of Rs 29.20 crore. Face value per share is Re 1.
The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Dilantin of Parke-Davis Division of Pfizer Inc.
Phenytoin Sodium Extended Capsules is an anti-epileptic product and indicated for the control of seizures and prevention and treatment of seizures occurring during or following neurosurgery. The product has an estimated market size of $125 million in the United States for the twelve months ended April 2015 according to IMS data.
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).
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