Aurobindo Pharma added 1.28% to Rs 1,002.05 after the drug maker received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Mometasone Furoate Monohydrate Nasal Spray.
The approved drug is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Nasonex Nasal Spray of Organon LLC. The product will be launched in Q1 FY25.Mometasone Furoate Monohydrate Nasal Spray is indicated for the treatment of the nasal symptoms of seasonal allergic and perennial allergic rhinitis, in adults and paediatric patients 2 years of age and older.
According to IQVIA, the approved product has an estimated market size of $44.5 million for the twelve months ended January 2024.
Aurobindo now has a total of 507 ANDA approvals (488 final approvals and 19 tentative approvals) from USFDA.
Aurobindo Pharma is principally engaged in manufacturing and marketing of active pharmaceutical ingredients, generic pharmaceuticals and related services.
The drug maker reported 90.58% jump in consolidated net profit to Rs 936.29 crore on 13.82% rise in revenue from operations to Rs 7,271.23 crore in Q3 FY24 over Q3 FY23.
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