Aurobindo Pharma, which had closed yesterday at Rs.533.30, opened lower today at Rs.531.45 but from there, went on to hit an intraday high at Rs.543.45. Its 52-week high stands at Rs.1003.85.
The stock price rose after the company announced that its wholly owned subsidiary company, Eugia Pharma Specialities has received a final approval from the US Food & Drug Administration (USFDA) to manufacture and market Triamcinolone Acetonide Injectable Suspension.
This drug is bioequivalent and therapeutically equivalent to the RLD, Kenalog-40 Injectable Suspension, of Bristol-Myers Squibb Company. The product is being launched this month.
The approved product has an estimated market size of around US$ 73 million for the twelve months ending May 2022, according to IQVIA.
This is the 142nd ANDA (including 8 tentative approvals received) out of Eugia Pharma Specialty Group (EPSG) facilities, manufacturing both oral and sterile specialty products.