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Aurobindo Pharma surges as arm gets nod to manufacture, market Vancomycin Hydrochloride for injection

Aug-07-2023   09:59 Hrs IST

Aurobindo Pharma is currently trading at Rs. 863.90, up by 22.10 points or 2.63% from its previous closing of Rs. 841.80 on the BSE.

The scrip opened at Rs. 843.25 and has touched a high and low of Rs. 864.45 and Rs. 839.70 respectively. So far 21288 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 864.45 on 7-Aug-2023 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. 864.45 and Rs. 805.90 respectively. The current market cap of the company is Rs. 49324.31 crore.

The promoters holding in the company stood at 51.83%, while Institutions and Non-Institutions held 39.86% and 8.31% respectively.

Aurobindo Pharma’s wholly owned subsidiary -- Eugia Pharma Specialities has received a final approval from the US Food & Drug Administration (USFDA) to manufacture and market Vancomycin Hydrochloride for Injection USP, 1.25 g/vial and 1.5 g/vial, Single-Dose Vial, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Vancomycin Hydrochloride for Injection USP, by Mylan Laboratories. The product is being launched in August 2023.

The approved product has an estimated market size of around $34.4 million for the twelve months ending May 2023, according to IQVIA.
This is the 164th ANDA (including 8 tentative approvals received) out of Eugia Pharma Speciality Group (EPSG) facilities, manufacturing both oral and sterile specialty products. Vancomycin Hydrochloride for Injection USP is indicated in adults and paediatric patients (neonates and older) for the treatment of Septicemia, Infective Endocarditis, Skin and Skin Structure Infections, Bone Infections and Lower Respiratory Tract Infections.

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.