Aurobindo Pharma today said it has received approval from the Australian health authority to market Risperidone and Alendronate tablets, used in the treatment of schizophrenia and osteoporosis, respectively, in the Australian market.
The company's subsidiary, Aurobindo Pharma Australia Pty, has received approvals from the Therapeutic Goods Administration (TGA), Australia, for registration of Risperidone tablets in 0.5 mg, 1 mg, 2 mg, 3 mg and 4 mg strengths, besides oral solution in 1 mg/1 ml strengths, Aurobindo Pharma said in a statement.
In addition, the company has received approval for marketing Alendronate tablets in 70 mg strengths, it added.
According to IMS data, Risperidone products have a market size of nearly $27.5 million in Australia, while the market for Alendronate was worth $14 million for the twelve months ending September, 2010.
With this approval, the Hyderabad-based firm now has eight approvals from the TGA, the company said.
Risperidone tablets and oral solution are used in the treatment of schizophrenia and fall under the neurological (CNS) segment. Alendronate tablets are used in the treatment and prevention of osteoporosis.
Shares of Aurobindo Pharma were being quoted at Rs 191.50 apiece on the Bombay Stock Exchange in late afternoon trade today, down 1.57% from their previous close.