Aurobindo Pharma rises as its arm gets nod to expand mammalian cell culture manufacturing facility
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Aurobindo Pharma is currently trading at Rs. 539.40, up by 4.80 points or 0.90% from its previous closing of Rs. 534.60 on the BSE.
The scrip opened at Rs. 536.50 and has touched a high and low of Rs. 542.90 and Rs. 536.10 respectively. So far 15536 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 767.45 on 15-Sep-2021 and a 52 week low of Rs. 503.40 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 550.95 and Rs. 532.10 respectively. The current market cap of the company is Rs. 31628.97 crore.
The promoters holding in the company stood at 51.83%, while Institutions and Non-Institutions held 38.01% and 10.15% respectively.
Aurobindo Pharma’s wholly owned subsidiary -- CuraTeO Biologics (CuraTeQ) has received approval to expand its operations by establishing another mammalian cell culture manufacturing facility of higher capacity to cater to the future requirements. The capital expenditure for ramping up capacities is estimated to be around Rs 300 crore. Subject to regulatory approvals and other factors, the facility is likely to be fully operational by FY 2026.
CuraTeQ also received approval to enter into contract manufacturing operations (ICCMO) for biologicals for effective utilization of capacities and augmenting the business prospects in this area as the global biologics contract manufacturing demand is growing at 8 to 10% rate. CuraTeQ will actively seek customers in CMO area.
Also, Aurobindo Pharma’s wholly owned subsidiary -- Auro Vaccines (Auro), which is engaged in business of developing and manufacturing vaccines biologicals has decided to explore the possibilities of offering contract manufacturing to global vaccine developers so as to effectively utilise its existing manufacturing capacity. Aurobindo Pharma will actively seek customers in this space.
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.
