Aurobindo Pharma soars on getting USFDA’s approval for Meropenem Injection

Aurobindo Pharma Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 524804 | NSE: AUROPHARMA

28 Mar 2017 Evaluate

Aurobindo Pharma is currently trading at Rs. 680.70, up by 10.40 points or 1.55% from its previous closing of Rs. 670.30 on the BSE.

The scrip opened at Rs. 672.00 and has touched a high and low of Rs. 683.00 and Rs. 672.00 respectively. So far 36546 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. 622.00 on 26-Dec-2016.

Last one week high and low of the scrip stood at Rs. 710.00 and Rs. 665.15 respectively. The current market cap of the company is Rs. 39270.69 crore.

The promoters holding in the company stood at 51.94%, while institutions and non-institutions held 35.07% and 13.00% respectively.

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Meropenem Injection 500 mg/vial and 1 g/vial. The company’s Meropenem injection is a generic equivalent of AstraZeneca Pharmaceuticals’ Merrem Injection. The product will be launched in April 2017.

Meropenem Injection is indicated as single agent therapy for the treatment of complicated skin and skin structure infections (adult patients and pediatric patients 3 or more than 3 months only), complicated intra-abdominal infections such as appendicitis and peritonitis (adult patients and pediatric patients 3 or more than 3 months only) and bacterial meningitis (pediatric patients 3 or more than 3 months only). The approved product has an estimated market size of $118 million for the twelve months ending January 2017.

This is the first ANDA approved out of Auronext Pharma’s (wholly owned subsidiary) formulation facility in Bhiwadi, India used for manufacturing penem injectable products. Aurobindo now has a total of 314 ANDA approvals (275 Final approvals including 16 from Aurolife Pharma LLC and 39 tentative approvals) from USFDA.

Aurobindo Pharma Share Price

1488.50 9.95 (0.67%)

08-May-2026 16:59 View Price Chart

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