Aurobindo Pharma spurs 8 per cent after getting USFDA approval
DSIJ Intelligence / 19 Jul 2017
Aurobindo Pharma surged almost 8 per cent in today’s morning trading session after it informed bourses that it got approval from the US Food & Drug Administration (USFDA) for Sevelamer Carbonate tablets.
Aurobindo Pharma surged almost 8 per cent in today’s morning trading session after it informed bourses that it got approval from the US Food & Drug Administration (USFDA) for Sevelamer Carbonate tablets. Sevelamer Carbonate tablets is a therapeutic equivalent generic version of Genzyme’s Renvela tablets. Renvela tablets is used to treat ailments related to kidney.
According to IMS, the approved product has an estimated market size of US dollar 1.9 billion for the 12 months ending, May 2017. This include an oral suspension, the tablet and Renagel. Moreover, the market for approved tablet version is estimated at US dollar 600-700 million.
Further, there will not be any competition at the moment apart from the innovator.
After this approval, Aurobindo now has a total of 331 ANDA approvals (294 final approvals including 16 from Aurolife Pharma LLC and 37 tentative approvals) from USFDA.
While writing, the stock of Aurobindo Pharma cools down and is trading at Rs. 774, up by 5.4 per cent.
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