Aurobindo Pharma in limelight
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.