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Aurobindo Pharma rises on receiving USFDA Approval for Memantine Hydrochloride Tablets

15 Oct 2015 Evaluate

Aurobindo Pharma is currently trading at Rs. 813.40, up by 7.65 points or 0.95% from its previous closing of Rs. 805.75 on the BSE.

The scrip opened at Rs. 808.20 and has touched a high and low of Rs. 815.50 and Rs. 804.10 respectively. So far 65189 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 832.50 on 20-Aug-2015 and a 52 week low of Rs. 443.65 on 16-Oct-2014.

Last one week high and low of the scrip stood at Rs. 815.50 and Rs. 732.60 respectively. The current market cap of the company is Rs. 47213.53 crore.

The promoters holding in the company stood at 53.92% while Institutions and Non-Institutions held 34.97% and 11.11% respectively.

Aurobindo Pharma has received the final approval from the US Food & Drug Administration (USFDA) to manufacture and market Memantine Hydrochloride Tablets, 5mg and 10mg (ANDA 203175). This approval is an extension of tentative approval received on March 24, 2014. The product is ready for launch. The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) NAMENDA 5mg and 10mg of Forest Laboratories Inc.

Memantine Hydrochloride Tablets are used for the treatment of moderate to severe dementia of the Alzheimer's type. The approved product has an estimated market size of $1.23 Billion for the twelve months ending August 2015 according to IMS. The company now has a total of 215 ANDA approvals (188 Final approvals including 10 from Aurolife Pharma LLC and 27 Tentative approvals) from USFDA.

 

Aurobindo Pharma Share Price

1379.10 11.40 (0.83%)
21-Apr-2026 12:27 View Price Chart
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