Powered by: Motilal Oswal
01-01-1970 12:00 AM | Source: Accord Fintech
Aurobindo Pharma climbs on inking voluntary license with Medicines Patent Pool
News By Tags | #786 #642 #572

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

Aurobindo Pharma is currently trading at Rs. 517.60, up by 7.80 points or 1.53% from its previous closing of Rs. 509.80 on the BSE.

The scrip opened at Rs. 511.55 and has touched a high and low of Rs. 520.50 and Rs. 510.85 respectively. So far 89496 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 714.60 on 06-Apr-2022 and a 52 week low of Rs. 397.30 on 03-Feb-2023.

Last one week high and low of the scrip stood at Rs. 520.50 and Rs. 485.05 respectively. The current market cap of the company is Rs. 30348.69 crore.

The promoters holding in the company stood at 51.83%, while Institutions and Non-Institutions held 37.21% and 10.96% respectively.

Aurobindo Pharma has signed voluntary sub-licensing with Medicines Patent Pool (MPP), a UN organization, for developing and marketing Cabotegravir Tablets & Long Acting Injectables, originally developed by ViiV Healthcare, for the prevention of HIV in 90 Low and Middle-Income Countries (LMIC), including India.

For the generic version of Cabotegravir, Aurobindo will utilize their vertically integrated capabilities to develop in-house API manufacturing which will enable stronger control on supply chain and cost efficiencies. The tablet and injectable dosage forms of the product will be produced at the APL Healthcare Unit IV, Naidupet, India, and at the new Eugia Sterile facility, Vizag, India, respectively. The company has adequate capacities of world class standards, to meet the global demand for the product across the licensed territory.

Aurobindo Pharma is engaged in manufacturing pharmaceutical products. It offers active pharmaceutical ingredients, intermediates and generic formulations like astemizole, domeperidone and omeprazole; anti-infective, oral and sterile antibiotics, pain management and osteoporosis segments.