Aurobindo Pharma rose 1.61% to Rs 845.55 at 10:10 IST on BSE after the company said that it has received final approval from the United States Food and Drug Administration to manufacture and market Sildenafil Tablets, 20 mg.
The company made announcement on Saturday, 21 November 2015.
Meanwhile, the BSE Sensex was down 12.11 points, or 0.07%, to 25,851.03.
On BSE, so far 29,639 shares were traded in the counter, compared with an average volume of 1.58 lakh shares in the past one quarter.
The stock hit a high of Rs 850 and a low of Rs 840.05 so far during the day. The stock hit a record high of Rs 860.80 on 29 October 2015. The stock hit a 52-week low of Rs 490.50 on 26 February 2015.
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The stock had outperformed the market over the past one month till 20 November 2015, rising 2.56% compared with 5.27% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 4.22% as against Sensex's 6.3% decline.
The large-cap company has an equity capital of Rs 58.40 crore. Face value per share is Re 1.
Aurobindo Pharma said Sildenafil Tablets, 20 mg is expected to be launched by Q4 March 2016. The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product REVATIO (sildenafil citrate) Tablets 20 mg of Pfizer, Inc.
Sildenafil Tablets are used in the treatment of pulmonary arterial hypertension (high blood pressure in the lungs). The approved product has an estimated market size of $80 million in the US for the twelve months ended September 2015, according to IMS data.
Aurobindo Pharma's consolidated net profit rose 21.4% to Rs 451.76 crore on 14.6% rise in net sales to Rs 3280.11 crore in Q2 September 2015 over Q2 September 2014.
Aurobindo Pharma, headquartered at Hyderabad, manufactures generic pharmaceuticals and active pharmaceutical ingredients (APIs).
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