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Aurobindo Pharma rises on receiving USFDA approval for Metformin Hydrochloride ER tablets

23 Jul 2012 Evaluate

Aurobindo Pharma is currently trading at Rs. 109.75, up by 1.45 points or 1.34% from its previous closing of Rs. 108.30 on the BSE.

The scrip opened at Rs. 107.70 and has touched a high and low of Rs. 110.45 and Rs. 107.10 respectively. So far 64,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 188.85 on 27-Jul-2011 and a 52 week low of Rs. 80.35 on 18-Nov-2011.

Last one week high and low of the scrip stood at Rs. 113.35 and Rs. 107.10 respectively. The current market cap of the company is Rs. 3,194.00 crore.

The promoters holding in the company stood at 54.76% while Institutions and Non-Institutions held 30.34% and 14.91% respectively.

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Metformin Hydrochloride Extended-Release (ER) Tablets USP 500mg and 750mg (ANDA 079118). The product is ready for launch.

Metformin Hydrochloride ER Tablets USP 500mg and 750mg is the generic equivalent of Bristol Myers Squibb Company (BMS)'s Glucophage XR Extended-release Tablets 500mg and 750mg respectively. Metformin Hydrochloride ER Tablets are oral anti-hyperglycemic drugs indicated as an adjunct to diet and exercise to improve glycemic control in patients with type-2 diabetes. The annual sale of the product is approximately $230 million.

The product has been approved out of Unit III formulations facility in Hyderabad, India. The company now has a total of 153 ANDA approvals (127 Final approvals including 1 from Aurolife Pharma LLC and 26 tentative approvals) from USFDA.

Aurobindo Pharma has a product presence in key therapeutic segments like SSPs, cephalosporins, antivirals, CNS, cardio-vascular, gastroenterology, etc. The company is the market leader in semi-synthetic penicillin drugs.

Aurobindo Pharma Share Price

1385.65 -0.45 (-0.03%)
17-Apr-2026 16:59 View Price Chart
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