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Aurobindo Pharma rises on expectations to get first biosimilar approval in US in 12-18 months

03 Dec 2018 Evaluate

Aurobindo Pharma is currently trading at Rs. 813.00, up by 2.70 points or 0.33% from its previous closing of Rs. 810.30 on the BSE.

The scrip opened at Rs. 814.90 and has touched a high and low of Rs. 815.30 and Rs. 802.30 respectively. So far 56559 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 826.35 on 07-Sep-2018 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. 815.30 and Rs. 779.50 respectively. The current market cap of the company is Rs. 47268.10 crore.

The promoters holding in the company stood at 51.87%, while Institutions and Non-Institutions held 34.15% and 13.98% respectively.

Aurobindo Pharma is expecting to receive an approval for its first biosimilar product in the US in the next 12-18 months, while in Europe, the company hopes a green signal by 2022.

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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