Share price of an integrated global pharmaceutical company moved up by nearly 3.44% to Rs. 1,114 in the morning trading session of March 4th, compared to its previous close of Rs. 1,076.95, after the company announced receiving USFDA approval.
With a market capitalisation of Rs. 65,039. crores, at 11:55 a.m. the shares of Aurobindo Pharma Ltd. were trading in the green at Rs. 1,108.55, up by 2.93 percent.
In the last one year, the company has delivered positive returns of about 137.3 percent and nearly 35.18 percent of returns in the last six months. So far in 2024, it has given positive returns of more than 2.6 percent.
According to recent regulatory filings with the stock exchanges, Aurobindo Pharma Limited has announced receiving final approval from the US Food & Drug Administration (USFDA).
The approval received by the company is to manufacture and market Fingolimod Capsules, 0.5 mg, which are bioequivalent and therapeutically equivalent to the Gilenya Capsules, 0.5 mg of Novartis Pharmaceuticals Corporation.
Fingolimod Capsules, 0.5 mg, will be used to treat patients with relapsing forms of multiple sclerosis (MS), reducing the frequency of clinical exacerbations and delaying the accumulation of physical disability.
Further, the approved product will be introduced in March 2024, with an estimated market size of $447.3 million or ~Rs. 3707.15 crore for the twelve months ending January 2024, according to the filings.
Aurobindo presently has 505 ANDA approvals from the USFDA, 486 of which are final approvals and 19 are tentative approvals.
In terms of financials, the revenue from operations of the company grew by nearly 1.84% QoQ from Rs. 7,219 crore in Q2 FY23-24 to Rs. 7,352 crore in Q3 FY23-24, accompanied by a 25% increase in the net profit from Rs. 752 crore in Q2 FY23-24 to Rs. 940 crore in Q3 FY23-24.
As of December 2023, FIIs hold 20.72 percent of the shares, whereas DIIs hold 20.60 percent of the shares in the company, aggregating to 41.32 percent of the institutional holdings.
Headquartered in Hyderabad, Aurobindo Pharma Limited develops, manufactures, and commercialises a wide range of branded speciality pharmaceuticals, generic pharmaceuticals and active pharmaceutical ingredients globally in more than 150 countries.
Founded in 1986, the company has 25 manufacturing and packaging facilities approved by leading regulatory agencies including the USFDA, WHO, and Health Canada.
Written by Shivani Singh
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