Credit rating agency, India Ratings & Research has affirmed Aurobindo Pharma’s long-term issuer rating at ‘AA-’ with stable outlook.
The company has received the said rating affirmation on the back of improvement in its revenue and profitability as it resumed sales to the US after the resolution of compliance issues in two of its manufacturing facilities. Also, the company has strong revenue visibility over the medium term with USFDA approvals back in place and the commencement of operations in its US subsidiaries along with 33 new ANDA approvals received for the US market.
Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company’s robust product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, and Anti-Allergics, supported by an outstanding R&D set-up.
