The shares of this pharmaceutical gained up to 1.31 after the company announced that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Darunavir Tablets.
With a market capitalization of Rs 59,830.19 Crores. Aurobindo Pharma Ltd, On Wednesday, The shares were trading at Rs 1,021.10 a share, an increase of 0.34 percent from the previous closing price.
According to the company filing, Aurobindo Pharma Ltd announced that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Darunavir Tablets, Prezista Tablets, 600 mg and 800 mg, of Janssen Products, which are bioequivalent and therapeutically.
In addition to the paragraph above, IQVIA estimates that the approved product’s market size will be US $ 274.8 million for the year ending in October 2023. As of right now, Aurobindo has received 500 ANDA approvals from the USFDA (478 final approvals and 22 tentative approvals).
Darunavir tablets are recommended for the treatment of HIV-1 infection in adults and pediatric patients three years of age and older when combined with other antiretroviral medications.
Aurobindo Pharma’s emphasis on growing the API business has resulted in notable advancements and accomplishments for FY23. The company is happy to announce that its total API revenue increased by 9.5% year over year to ₹3,848 crore.
Looking into the company’s performance, Aurobindo Pharma Ltd’s revenue increased by 25.7 percent from Rs 5,739 Crore in Q2FY23 to Rs 7,219 Crore in Q2FY24. During the same period, net profits increased by 83 percent from Rs 410 crore to Rs 752 crore.
Manufacturing and selling active ingredients for pharmaceuticals, generic medications, and associated services are the main business activities of Aurobindo Pharma.
Written by:- Abhishek Singh
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