Aurobindo Pharma shines on HIV drugs approval
DSIJ Intelligence / 30 Mar 2017
Aurobindo Pharma has bagged final approval from the US Food & Drug Administration (USFDA) to manufacture Abacavir Sulfate and Lamivudine tablets.The stock price of Aurobindo Pharma increased 1.17 per cent in early trade, and is trading at Rs 678.5 on an intraday basis.
Aurobindo Pharma has bagged final approval from the US Food & Drug Administration (USFDA) to manufacture Abacavir Sulfate and Lamivudine tablets. Abacavir Sulfate and Lamivudine tablets are the AB rated generic equivalent of VIIV Healthcare Company’s Epzicom tablets.
Aurobindo Pharma will be launching the products immediately. The approved product has an estimated market size of USD 388 million (Rs 2520 crore) for the twelve months ending December 2016, according to IMS.
The Company’s approved drugs are indicated in combination with other anti-retroviral agents for the treatment of HIV-1 infection. Aurobindo Pharma has a total of 314 ANDA approvals (276 final approvals including 16 from Aurolife Pharma LLC and 38 tentative approvals) from USFDA.
On the financial front, Aurobindo Pharma’s revenue increased 11.43 per cent to Rs 3906 crore in Q3FY17 on a yearly basis. The company’s operating profit too rose 9.54 per cent to Rs 895 crore in Q3FY17 as compared to same period in previous fiscal. Its net profit also increased 6.3 per cent to Rs 579 crore in Q3FY17 on a Y-o-Y basis.
The stock price of Aurobindo Pharma increased 1.17 per cent in early trade, and is trading at Rs 678.5 on an intraday basis.
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