Aurobindo Pharma rises on getting final nod to manufacture, market Fingolimod Capsules, 0.5 mg
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Aurobindo Pharma is currently trading at Rs. 1097.35, up by 21.25 points or 1.97% from its previous closing of Rs. 1076.10 on the BSE.
The scrip opened at Rs. 1077.50 and has touched a high and low of Rs. 1097.35 and Rs. 1072.00 respectively. So far 3359 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1177.00 on 30-Jan-2024 and a 52 week low of Rs. 443.15 on 14-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1097.35 and Rs. 1012.00 respectively. The current market cap of the company is Rs. 63052.85 crore.
The promoters holding in the company stood at 51.83%, while Institutions and Non-Institutions held 41.32% and 6.85% respectively.
Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Fingolimod Capsules, 0.5 mg, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Gilenya Capsules, 0.5 mg of Novartis Pharmaceuticals Corporation. The product will be launched in March 2024.
The approved product has an estimated market size of $447.3 million for the twelve months ending January 2024, according to IQVIA. Aurobindo now has a total of 505 ANDA approvals (486 Final approvals and 19 tentative approvals) from USFDA.
Fingolimod Capsules, 0.5 mg, is indicated for the treatment of patients with relapsing forms of multiple sclerosis (MS) to reduce the frequency of clinical exacerbations and to delay the accumulation of physical disability.
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.
