Aurobindo Pharma surges on securing USFDA’s approval for Estradiol Vaginal Inserts
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Aurobindo Pharma is currently trading at Rs. 1479.40, up by 15.30 points or 1.05% from its previous closing of Rs. 1464.10 on the BSE.
The scrip opened at Rs. 1477.75 and has touched a high and low of Rs. 1480.40 and Rs. 1448.85 respectively. So far 8770 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1480.40 on 08-Aug-2024 and a 52 week low of Rs. 815.15 on 05-Sep-2023.
Last one week high and low of the scrip stood at Rs. 1480.40 and Rs. 1396.30 respectively. The current market cap of the company is Rs. 86399.58 crore.
The promoters holding in the company stood at 51.80%, while Institutions and Non-Institutions held 41.50% and 6.70% respectively.
Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Estradiol Vaginal Inserts USP, 10 mcg, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), VAGIFEM 10 mcg of Novo Nordisk Inc. The product will be launched in Q2FY25.
The approved product has an estimated market size of $268 million for the twelve months ending June 2024, according to IQVIA. Aurobindo Pharma now has a total of 521 ANDA approvals (504 Final approvals and 17 tentative approvals) from USFDA. Estradiol Vaginal Inserts USP, 10 mcg is indicated for the treatment of atrophic vaginitis due to menopause.
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.
