Aurobindo Pharma shines on receiving USFDA’s approval for Omeprazole DR Tablets OTC

08 Jun 2018 Evaluate

Aurobindo Pharma is currently trading at Rs. 565.55, up by 17.80 points or 3.25% from its previous closing of Rs. 547.75 on the BSE.

The scrip opened at Rs. 543.00 and has touched a high and low of Rs. 566.70 and Rs. 543.00 respectively. So far 95886 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 808.95 on 07-Nov-2017 and a 52 week low of Rs. 527.05 on 04-Jun-2018.

Last one week high and low of the scrip stood at Rs. 566.70 and Rs. 527.05 respectively. The current market cap of the company is Rs. 32784.46 crore.

The promoters holding in the company stood at 51.87%, while Institutions and Non-Institutions held 33.63% and 14.50% respectively.

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture Omeprazole Delayed-Release (DR) tablets OTC, 20mg. Aurobindo's Omeprazole Delayed-Release tablets are generic equivalent of AstraZeneca's Prilosec OTC tablets. The product will be launched in June 2018.

Omeprazole tablets are indicated for the treatment of frequent heartburn (occurs 2 or more days a week). According to Nielsen data, the estimated market size of Prilosec OTC tablets is $222 million for the twelve months ending March 2018.

This is the 141st ANDA (including 20 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 369 ANDA approvals (336 Final approvals including 17 from Aurolife Pharma LLC and 33 tentative approvals) from USFDA.

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.

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