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Aurobindo Pharma is trading higher by nearly 3% to Rs 1,116 on NSE in early morning trade after the drug maker said it has received final approval from US health regulator to sell generic version of Valsartan tablets used for treatment of hypertension.
“The company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Valsartan Tablets USP, 40mg, 80mg, 160mg and 320mg. The product is ready for launch,” Aurobindo Pharma said in a statement.
The product falls under the therapeutic category of CVS (Cardio Vascular) has a market size of approximately US$ 2 Billion for the twelve months ending October 2014 according to IMS, it added.
Aurobindo said now it has a total of 195 ANDA approvals (170 Final approvals including 7 from Aurolife Pharma LLC and 25 tentative approvals) from USFDA.
The stock opened at Rs 1,104 and touched a high of Rs 1,119 on NSE. A combined around 120,000 shares changed hands on the counter in first 10 minutes of trade on NSE and BSE.
“The company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Valsartan Tablets USP, 40mg, 80mg, 160mg and 320mg. The product is ready for launch,” Aurobindo Pharma said in a statement.
The product falls under the therapeutic category of CVS (Cardio Vascular) has a market size of approximately US$ 2 Billion for the twelve months ending October 2014 according to IMS, it added.
Aurobindo said now it has a total of 195 ANDA approvals (170 Final approvals including 7 from Aurolife Pharma LLC and 25 tentative approvals) from USFDA.
The stock opened at Rs 1,104 and touched a high of Rs 1,119 on NSE. A combined around 120,000 shares changed hands on the counter in first 10 minutes of trade on NSE and BSE.
