Aurobindo Pharma rose 4.53% to Rs 784.55 at 14:20 IST on BSE after the company said it has received the final approval from the US drug regulator to manufacture and market Aripiprazole Tablets in six strengths in the United States.
The company made the announcement during market hours today, 9 October 2015.
Meanwhile, the S&P BSE Sensex was up 170.43 points or 0.63% at 27,016.24.
On BSE, so far 2.34 lakh shares were traded in the counter as against average daily volume of 2.02 lakh shares in the past one quarter.
The stock hit a high of Rs 787.75 and a low of Rs 753.50 so far during the day. The stock had hit a record high of Rs 832.50 on 20 August 2015. The stock had hit a 52-week low of Rs 443.65 on 16 October 2014.
The stock had underperformed the market over the past one month till 8 October 2015, gaining 3.5% compared with Sensex's 6.04% rise. The scrip, however, outperformed the market in past one quarter, rising 3.91% as against Sensex's 3.04% fall.
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The large-cap company has equity capital of Rs 58.40 crore. Face value per share is Rs 1.
Aurobindo Pharma announced that it has received the final approval from the United States Food & Drug Administration (USFDA) to manufacture and market Aripiprazole Tablets, 2mg, 5mg, 10mg, 15mg, 20mg and 30mg. The product is ready for launch, Aurobindo Pharma said. The approved abbreviated new drug application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Abilify Tablets, 2mg, 5mg, 10mg, 15mg, 20mg and 30mg of Otsuka Pharmaceutical Company.
Aripiprazole Tablets are atypical antipsychotic indicated in the treatment symptoms of psychotic conditions such as schizophrenia and bipolar disorder (manic depression). The approved product has an estimated market size of $7.3 billion in the United States, for the twelve months ended August 2015, according to IMS data.
Aurobindo Pharma's consolidated net profit rose 4.1% to Rs 432.40 crore on 12.8% growth in net sales to Rs 3263.72 crore in Q1 June 2015 over Q1 June 2014.
Aurobindo Pharma, headquartered at Hyderabad, manufactures generic pharmaceuticals and active pharmaceutical ingredients (APIs).
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