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19-Jul2017

Aurobindo Pharma advances on receiving USFDA approval for Sevelamer Carbonate tablets

Aurobindo Pharma is currently trading at Rs. 768.40, up by 34.65 points or 4.72% from its previous closing of Rs. 733.75 on the BSE.

The scrip opened at Rs. 771.00 and has touched a high and low of Rs. 794.50 and Rs. 766.10 respectively. So far 2,50,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 895.00 on 06-Oct-2016 and a 52 week low of Rs. 504.00 on 29-May-2017.

Last one week high and low of the scrip stood at Rs. 794.50 and Rs. 691.75 respectively. The current market cap of the company is Rs. 45,051.00 crore.

The promoters holding in the company stood at 51.87%, while Institutions and Non-Institutions held 33.81% and 14.32% respectively.

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture Sevelamer Carbonate tablets 800mg. Sevelamer Carbonate tablets, a therapeutic equivalent generic version of Genzyme's Renvela tablets. The product is being launched immediately.

Sevelamer Carbonate tablets is indicated for the control of serum phosphorus in patients with chronic kidney disease (CKD) on dialysis. The approved product has an estimated market size of $1.9 billion for the twelve months ending May 2017 according to IMS.

This is the 124th ANDA (including 21 tentative approvals) to be approved out of Unit VII formulation facility in Hyderabad, India used for manufacturing oral products. Aurobindo now has a total of 331 ANDA approvals (294 Final approvals including 16 from Aurolife Pharma LLC and 37 tentative approvals) from USFDA.



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