Shares of this mid-cap pharma company jumped after getting final approval from USFDA
The product is anticipated to be released this month.
The previous day’s close of the shares was at Rs 441.20. On Wednesday, the shares opened at Rs 444.75 and made the day high at Rs 445.00 a piece.
The US Food & Drug Administration (USFDA) has given its final permission for Eugia Pharma Specialities, a fully owned subsidiary of Aurobindo Pharma, to manufacture and market Azacitidine for Injection, 100 mg Single-Dose Vials. Azacitidine for Injection, 100 mg Single-Dose Vial, was found to be bioequivalent and therapeutically equivalent to Vidaza for Injection, 100 mg Single-Dose Vial, manufactured by Bristol-Myers Squibb Company, which is the Reference Listed Drug (RLD). The product is anticipated to be released this month.
According to IQVIA, the market size for the approved product is anticipated to be about $46 million for the 12 months ending in November 2022.
The Eugia Pharma Speciality Group (EPSG) facilities, which produce both oral and sterile speciality pharmaceuticals, have produced 153 ANDAs (with 10 tentative approvals received).
Aurobindo Pharma Limited is primarily engaged in manufacturing and marketing Active Pharmaceutical Ingredients (API), generic pharmaceuticals and related services. Around 90% of Aurobindo's sales come from international business and the company exports to many different nations worldwide. Through seamless vertical integration, its API business has ensured the profitability and expansion of its formulation company. Its API business is supported by a cutting-edge research and development infrastructure that creates new products and aids in the marketing of goods.
The 52-week high of the stock is Rs 742.25 whereas the 52-week low was Rs 429.30. Promoters of the company are holding a 51.84 per cent stake in the company whereas the institutional and non-institutional holdings are 37.97 per cent and 10.20, respectively.
Presently, the market cap of the company stands at Rs 25,790.09 crore.