Aurobindo Pharma trades firm on final USFDA approval

Hyderabad headquartered Aurobiondo Pharmaceuticals has announced on Tuesday  that the company has received final approval from the US Food and Drug Adminitration (USFDA)  for manufacturing and marketing Amlodipine & Valsartan tablets. Amlodipine and Valsartan tablets are used in the treatment of hyper tension, to lower blood pressure. The estimated market size for the approved product is $ 123 million.

The company also highlighted that this is the 71st Abbreviated New Drug Application (ANDA) to be approved out of its Unit VII formulation facility in Hyderabad, for manufacturing of oral non-anti biotic products. With this approval Aurobindo has confirmed the total USFDA approvals tally at 254.

Aurobindo Pharmaceuticals manufacture generic pharmaceuticals and active pharmaceutical ingredients and the company’s product portfolio is spread over 7 major product areas including antibiotics, anti- retrovirals, CVS, CNS, gastroenterology, anti – allergies and anti- diabetics which it markets across 150 countries globally.

Aurobindo Pharma is trading firm on Tuesday’s session at 773, close to its 200 DMA, up almost 1.3 per cent on intra-day basis. On YTD basis, the stock is trading down by almost 12 to 13 per cent. On 1 year basis the stock is up by almost 27 per cent thus outperforming the sectoral benchmark index BSE Healthcare. BSE Healthcare has reported negative returns of 3 percent during similar period.