Aurobindo Pharma rises on receiving USFDA’s nod for Ibandronate Sodium Tablets

Aurobindo Pharma is currently trading at Rs. 714.45, up by 4.45 points or 0.63% from its previous closing of Rs. 710.00 on the BSE.

The scrip opened at Rs. 709.00 and has touched a high and low of Rs. 722.35 and Rs. 707.20 respectively. So far 54,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 891.50 on 30-Dec-2015 and a 52 week low of Rs. 557.43 on 23-Mar-2015.

Last one week high and low of the scrip stood at Rs. 741.25 and Rs. 704.40 respectively. The current market cap of the company is Rs. 41,807.00 crore.

The promoters holding in the company stood at 53.90% while Institutions and Non-Institutions held 35.24% and 10.86% respectively.

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Ibandronate Sodium Tablets, 150mg. This product is expected to be launched in Q1 FY16-17. The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Boniva Tablets of Hoffman-La Roche Inc.

Ibandronate Sodium Tablets is used in the treatment and prevention of osteoporosis in postmenopausal women. The approved product has an estimated market size of $55 million for the twelve months ending January 2016.

This is the 65th ANDA (including 14 tentative approvals) to be approved out of Unit VII formulation facility in Hyderabad, India for manufacturing Oral Non-Antibiotic products. Aurobindo now has a total of 243 ANDA approvals (208 Final approvals including 10 from Aurolife Pharma LLC and 35 tentative approvals) from USFDA.