Aurobindo's stock reacted positively to the news, going up in morning trade but later settled flat at Rs 784.65 on the BSE
Divestment of the US subsidiary is at good valuations and will help attain net cash positive status
Shares of Aurobindo Pharma on Thursday closed over 3 per cent lower after the company's step-down subsidiary received a warning letter from the US health regulator for its unit in New Jersey, US.
Drug firm Aurobindo Pharma on Thursday said it has received final approval from the US health regulator for its generic Acetaminophen injection, used in the treatment of pain in adult and paediatric patients. The company has received the approval from the US Food & Drug Administration (USFDA) to manufacture and market Acetaminophen injection, 1,000 mg/ 100 mL single-dose vial, Aurobindo Pharma said in a BSE filing. The product will be launched in December 2020, it added. It is a generic version of Mallinckrodt's Ofirmev injection. According to IQVIA data, the approved product has an estimated market size of USD 339 million for the twelve months ending August 2020, Aurobindo Pharma said. Acetaminophen Injection is indicated for the treatment of mild to moderate pain in adult and paediatric patients 2 years and older. It is also set to treat moderate to severe pain with adjunctive opioid analgesics in adult and paediatric patients 2 years and older, and reduction of fever, the ...
Drug firm Aurobindo Pharma said its step-down subsidiary has received a warning letter from the US health regulator for its unit in New Jersey, US
The company said it would engage with the regulator and would try to resolve the issue at the earliest
The RSI indicator for Hindalco Industries has recently indicated a decent rise to imply strength
The stock of Bharat Forge has formed a strong base and has started making a higher top and higher bottom formation on the daily chart
Rebound in injectable sales, multiple product launches, strong European outlook and reduction in net debt are key earning triggers
If these levels are taken out, this will certainly negate the bearish stance and then the indies can head higher.
All that happened in the markets today
All indicators point to a gradual rise in Aurobindo Pharma's stock from the 100 EMA support
The Council of Scientific and Industrial Research (CSIR) and Aurobindo Pharma Limited on Tuesday announced a collaboration to develop vaccines for COVID-19.As per the release issued by the Centre for Cellular & Molecular Biology (CCMB), under the signed agreement between CSIR- CCMB and Aurobindo Pharma, Aurobindo will partner with CSIR for the development of several novel COVID-19 vaccines."Three CSIR labs namely CCMB Hyderabad, Institute of Medical Technology (IMTECH), Chandigarh and Indian Institute of Chemical Biology (IICB), Kolkata are developing vaccine candidates using different technology platforms. Aurobindo will undertake clinical development and commercialization of the vaccines," it said.Commenting on this partnership, Dr Shekhar C Mande, Director General, CSIR, said that "Joining of hands of premier CSIR labs with industry for the development of vaccines will amplify India's efforts in indigenous vaccine development and also help in preparedness for future ...
Developing own candidate; to develop and make CSIR vaccine candiates
Aurobindo Pharma on Tuesday announced collaboration with the Biotechnology Industry Research Assistance Council (BIRAC), set up by the Department of Biotechnology for the development of Covid vaccine
The firm has earmarked $150-200 million towards capital expenditure during the current fiscal year
Margins expected to improve on product mix and volume growth
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Interim dividend of Rs 1.25 per equity share of Re 1 has been approved by the board for FY21
TITAN, after the breakout from a consolidation range, is gradually inching higher while holding strongly above the support zone of the long term moving average( 200 EMA) on the daily chart