Aurobindo Pharma rose 0.83% to Rs 305.10 at 12:47 IST on BSE after the company secured final approval from US Food & Drug Administration to manufacture and market Alendronate sodium tablets in multiple strengths.
The company made this announcement during trading hours on Tuesday, 5 August 2008.
Meanwhile, the BSE Sensex was up 4.22 points, or 0.03%, to 14,582.09.
On BSE, 33,420 shares were traded in the counter. The scrip had an average daily volume of 62,920 shares in the past one quarter.
The stock hit a high of Rs 314 and a low of Rs 305.05 so far during the day. The stock had hit a 52-week high of Rs 647 on 5 September 2007 and a 52-week low of Rs 233 on 22 January 2008.
The mid-cap company had underperformed the market over the past one month till 4 August 2008, gaining 4.31% compared to the Sensex’s return of 8.35%. It had outperformed the market in the past one quarter, declining 9.83% compared to Sensex’s decline of 16.09%.
The company has an equity capital of Rs 26.88 crore. Face value per share is Rs 5.
The current price of Rs 305.10 discounts its Q1 June 2008 annualised EPS of Rs 29.67, by a PE multiple of 10.28.
Alendronate sodium tablets are used for the treatment of osteoporosis (bone disease). The annual sale of this tablets in US market were around $1982 million for the year ended December 2007.
On 1 August 2008, Aurobindo Pharma received final approval from US Food & Drug Administration (USFDA) for its two abbreviated new drug applications for ceftriaxone injections in multiple strengths.
On 10 June 2008, the company received final approval from the USFDA to manufacture and market zaleplon capsules in 5 and 10-miligram strengths.
Aurobindo Pharma’s net profit fell 31.9% to Rs 39.87 crore on 34.9% increase in net sales to Rs 647.23 crore in Q1 June 2008 over Q1 June 2007.
Aurobindo Pharma is engaged in developing, manufacturing and marketing active pharmaceutical ingredients, intermediates and generic formulations.