Aurobindo Pharma surges on getting tentative nod from US FDA for HIV-1 drug

Aurobindo Pharma is currently trading at Rs. 179.00, up by 2.30 points or 1.30% from its previous closing of Rs. 176.70 on the BSE.

The scrip opened at Rs. 174.30 and has touched a high and low of Rs. 181.25 and Rs. 174.30 respectively. So far 96865 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 204.90 on 07-Jan-2013 and a 52 week low of Rs. 99.65 on 10-Aug-2012.

Last one week high and low of the scrip stood at Rs. 181.25 and Rs. 151.15 respectively. The current market cap of the company is Rs. 5173.37 crore.

The promoters holding in the company stood at 54.84% while Institutions and Non-Institutions held 31.87% and 13.29% respectively.

Aurobindo Pharma has received the tentative approval to manufacture and market Efavirenz+Lamivudine+Tenofovir Disoproxil Fumarate Tablets, 600mg/ 300mg/ 300mg from the US Food & Drug Administration (USFDA). The New Drug Application (NDA) 22-343 provides for the use of these tablets alone or in combination with other antiretrovirals for the treatment of HIV-1 infection in adults and adolescents aged more than 16 years of age and weighing at-least 40 kg.

This NDA was reviewed under the President’s Emergency Plan for AIDS Relief (PEPFAR). The estimated ARV Access Market (Emerging Markets) for the product was $120 million last year and expected to record strong growth in the coming year.

The company now has a total of 191 ANDA approvals (163 Final approvals including 4 from Aurolife Pharma LLC and 28 Tentative approvals) from USFDA. 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.