Aurobindo Pharma rose 1.96% to Rs 735.05 at 9:18 IST on BSE after the company said it has received final approval from the United States Food and Drug Administration to manufacture and market Naproxen Sodium Tablets USP, 220 mg (OTC).
The announcement was made on Saturday, 19 March 2016.Meanwhile, the S&P BSE Sensex was up 128.71 points or 0.52% at 25,081.45.
On BSE, so far 8,024 shares were traded in the counter as against average daily volume of 1.98 lakh shares in the past one quarter. The stock hit a high of Rs 738 and a low of Rs 728.90 so far during the day. The stock had hit a record high of Rs 891.50 on 30 December 2015. The stock had hit a 52-week low of Rs 557.43 on 23 March 2015.
The large-cap company has equity capital of Rs 58.52 crore. Face value per share is Rs 1.
Aurobindo Pharma said it expects to launch Naproxen Sodium Tablets USP, 220 mg (OTC) in Q1 June 2016. The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Aleve Tablets, of Bayer Healthcare LLC (Bayer).
Naproxen Sodium Tablets is used in the treatment and prevention of osteoporosis in postmenopausal women. According to IMS data, the approved product has an estimated market size of $96 million in the United States for the twelve months ended January 2016.
Aurobindo Pharma's consolidated net profit rose 39.2% to Rs 534.95 crore on 9.2% growth in net sales to Rs 3432.08 crore in Q3 December 2015 over Q3 December 2014.
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Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company's robust product portfolio is spread over 6 major therapeutic/product areas encompassing antibiotics, anti-retrovirals, CVS, CNS, gastroenterologicals, and anti-allergies. The company is marketing these products globally, in over 150 countries.
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