Aurobindo Pharma receives USFDA nod for Omeprazole tablets production
Pharma major Aurobindo Pharma surged by over 3 per cent in Friday’s intraday trade as the company received the final nod from the US health regulator US Food and Drugs Association to manufacture Omeprazole delayed release tablets OTC.
Omeprazole tablets are used for the treatment of frequent heartburn and are the generic equivalent of AstraZeneca's Prilosec OTC tablets. The Prilosec OTC tablets were estimated to have a market size of USD 222 million in the fiscal year 2018, according to various reports.
The company has a total of 369 ANDA approvals, with 336 final approvals including 17 from Aurolife Pharma LLC and 33 tentative approvals from the USFDA.
In Friday’s intra day trade, the stock hit its intraday high of Rs. 566.70 per share and its intraday low of Rs. 543 per share on BSE. The stock had touched its 52-week high of Rs. 808.95 per share on November 7, 2017 and its 52-week low of Rs. 527.05 per share on June 4, 2018, respectively.
At 1258 hours IST, the stock was trading at 561.15 per share, up by 2.45 per cent on Friday on BSE. Meanwhile, Indian benchmark index S&P BSE Sensex was trading at 35,311.49 level, down by 0.44 per cent and NSE Nifty50 was trading at 10,725.85 level, down by 0.39 per cent.