Aurobindo Pharma has surged over 8% to Rs 117 in noon deals on the Bombay Stock Exchange. A combined 1.02 million shares have changed hands on the counter so far on both the exchanges.
The pharmaceutical company on Wednesday said that it has received final approval from the United States Food and Drug Administration (USFDA) for its generic Nevirapine tablets and oral suspension used for treating human immunodeficiency virus (HIV).
The company plans to launch the products manufactured at its Hyderabad facility soon in the US market, Aurobindo Pharma said in a press release.
According to IMS health data the products have a market size of approximately $125 million for the twelve months ending December 2011, it added.