Aurobindo Pharma's scrip surged over 6 per cent today as the company received tentative approval from the USFDA to manufacture and market Dolutegravir, used for the treatment of HIV, in the US market.
Shares of the company advanced by 6.33 per cent to settle at Rs 857.15 on BSE. During the day, it jumped 6.67 per cent to Rs 860.
At NSE, shares of the company rose 6.1 per cent to end at Rs 856.95.
The company added Rs 2,984.81 crore to Rs 50,157.81 crore in market valuation.
On the volume front, 7.79 lakh shares of the company changed hands on BSE and over 76 lakh shares were traded on NSE during the day.
In a BSE filing, Aurobindo Pharma said it has received "tentative approval for Dolutegravir 50 mg from US Food & Drug Administration (USFDA) for treatment of HIV.
"Through an innovative collaboration with ViiV and the Clinton Health Access Initiative, Inc. (CHAI), the product is expected to be launched in sub-Saharan Africa in late 2016."
The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product Tivicay, of ViiV Healthcare, it added.
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