Aurobindo Pharma receives US FDA approval - Angel Broking

Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd

Aurobindo Pharma receives USFDA Approval for Dexmedetomidine HCL in 0.9% Sodium Chloride Injection. Aurobindo Pharma Limited announced that the company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Dexmedetomidine Hydrochloride in 0.9% Sodium Chloride Injection, 200 µg/50 mL and 400 µg/100 mL Single Dose flexible containers (Bags). Aurobindo's Dexmedetomidine HCl in 0.9% Sodium Chloride Injection is a therapeutic equivalent generic version of Hospira's Precedex®. The product will be launched in January 2021. Dexmedetomidine Hydrochloride in 0.9% sodium chloride injection is a relatively selective alpha2 -adrenergic agonist indicated for a) sedation of initially intubated and mechanically ventilated patients during treatment in an intensive care setting, b) sedation of non-intubated patients prior to and/or during surgical and other procedures. The approved product has an estimated market. This is another very worthy approval for Aurobindo Pharma, this injectable having a market size of US$ 228 million for the twelve months ending October 2020 according to IQVIA. This injectable will help Aurobindo to increase its USA revenue contribution to the top line.

Shares of AUROBINDO PHARMA LTD. was last trading in BSE at Rs.888.45 as compared to the previous close of Rs. 895.75. The total number of shares traded during the day was 86944 in over 2367 trades.

The stock hit an intraday high of Rs. 907.7 and intraday low of 885.15. The net turnover during the day was Rs. 77825176.

Source : Equity Bulls

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