Aurobindo Pharma: Early on March 20, Aurobindo Pharma’s stock price increased by almost 2 percent following the US Food & Drug Administration (USFDA)’s approval of the company’s nasal spray.
Aurobindo Pharma was trading at Rs 1,003.90 on the BSE at 9:18 a.m., up Rs 14.50, or 1.47 percent.
According to a press release, the company has obtained final approval from the USFDA to produce and distribute Mometasone Furoate Monohydrate Nasal Spray, 50 mcg/spray, which is therapeutically and is bioequivalent to the reference listed drug (RLD), Nasonex Nasal Spray, 50 mcg/spray, manufactured by Organon LLC.
Mometasone Furoate Monohydrate Nasal Spray is prescribed for adults and children to alleviate nasal symptoms associated with seasonal allergic and perennial allergic rhinitis.
Earlier this month, CuraTeQ Biologics Private Limited, a subsidiary of Aurobindo Pharma, revealed that its Omalizumab biosimilar candidate BP11 successfully met Phase 1 trial endpoints compared to the EU and US-sourced reference product Xolair.
Earlier, CNBC-TV18 reported that the US agency had previously highlighted procedural and cleanliness concerns at the Telangana-based subsidiary, Eugia Pharma SEZ unit, of the company.
Eugia Pharma Specialities Ltd, a wholly-owned subsidiary, has commenced the distribution of aseptic products manufactured at Unit III after a temporary suspension.
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The stock reached its highest point in 52 weeks at Rs 1,177 on January 30, 2024, and hit its lowest at Rs 466 on March 21, 2023. Currently, it is trading 14.71 percent lower than its peak and 115.43 percent higher than its lowest point in the past year.
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