Aurobindo Pharma, Glenmark Pharma hit 52-week highs

Aurobindo Pharma was up 9% at Rs 826, surging 22% in past three trading days after the company on Thursday announced the acquisition of Sandoz's generic business in the US for $900 million.

Shares of Aurobindo Pharma and Glenmark Pharmaceuticals from the pharma sector hit their respective 52-week highs on the BSE in intra-day trade on Friday.

At 10:23 am; the S&P BSE Sensex was trading 0.04% lower at 38,227 points, after hitting an intra-day low of 38,067 today.

Aurobindo Pharma was up 9% at Rs 826, surging 22% in the past three trading days after the company on Thursday announced the acquisition of Sandoz’s generic business in the US for $900 million. Currently US business contributes to around 45% of its revenue.

“Sandoz acquisition seems to be transacted at