Aurobindo Pharma extend gains on USFDA nod for anti-hypertension drug

Aurobindo Pharma is trading higher by 3% at Rs 132, extending its 8% rally in past two days after the company received final approvals from the US Food & Drug Administration (USFDA) to manufacture and market anti-hypertension drug Amlodipine Besylate and Benazepril Hydrochloride capsules in various strengths.

“The annual sales of Amlodipine Besylate and Benazepril Hydrochloride capsules is approximately $500 million for the twelve months ending March 2012, according to IMS Data," Aurobindo Pharma said in a filing.

The stock opened at Rs 129 and touched four-month high of Rs 134 on the BSE. A combined 2.04 million shares have already changed hands on the counter till early noon deals against an average sub 2.25 million shares that were traded daily in past two weeks.