Aurobindo Pharma gets USFDA nod for three drugs; stock shines in trade

Hyderabad based drug major, Aurobindo Pharma became the newest generic firm to get an USFDA (US Food & Drug Administrations) nod for the launch of zoledronic Acid injection of 4 mg/5ml strength.

Zoledronic Acid is used to treat osteoporosis in women after menopause, is a generic version of Swiss pharmaceutical company Novartis AG’s Zometa (zoledronic acid) injection. The market for Zoledronic is said to be around USD 150-200 million according to IMS health.

Aurobindo faces competition from many companies in the generic space including other Indian pharma rivals such as Dr. Reddy’s Laboratories, Sun Pharma, Emcure Pharmaceuticals and Gland Pharma.

Company also received regulators’ approval for Levonorgestrel- Ethinyl Estradiol oral and Norethindrone tablets, both of which are contraceptive pills.

In recent months company has seen its drug filings getting regulatory nod indicating a very strong revenue visibility for the coming quarters plus helping it expand its drug portfolio.

Reacting to the development, shares of Aurobindo Pharma surged in trade to hit an intra-day high of Rs 882.80 i.e up by more than 3 per cent on NSE.