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Aurobindo gains on receiving approval for Guaifenesin, Dextromethorphan Hydrobromide tablets

Aurobindo Pharma is currently trading at Rs. 705.75, up by 2.55 points or 0.36% from its previous closing of Rs. 703.20 on the BSE.

The scrip opened at Rs. 710.00 and has touched a high and low of Rs. 710.00 and Rs. 705.00 respectively. So far 10,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 895.00 on 06-Oct-2016 and a 52 week low of Rs. 622.00 on 26-Dec-2016.

Last one week high and low of the scrip stood at Rs. 710.00 and Rs. 664.90 respectively. The current market cap of the company is Rs. 41,303.00 crore.

The promoters holding in the company stood at 51.94%, while Institutions and Non-Institutions held 35.07% and 13.00% respectively.

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture Guaifenesin and Dextromethorphan Hydrobromide extended-release tablets, 600/30 mg and 1200/60mg (OTC). Aurobindo’s Guaifenesin and Dextromethorphan Hydrobromide extended-release tablets are the AB rated generic equivalent of Reckitt Benckiser’s Mucinex DM tablets. The product will be launched in Q1FY18.

Guaifenesin and Dextromethorphan Hydrobromide extended-release tablets helps loosen mucus and phlegm, and thin out bronchial secretions, making coughs more productive. The approved product has an estimated market size of $235 million for the twelve months ending December 2016, according to IRI database.

This is the 106th ANDA (including 21 tentative approvals) approved out of Unit VII formulation facility in Hyderabad, India used for manufacturing oral products. Aurobindo now has a total of 311 ANDA approvals (272 Final approvals including 16 from Aurolife Pharma LLC and 39 tentative approvals) from USFDA.

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