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Aurobindo Pharma jumps over 8 per cent on FDA nod

Aurobindo Pharma gets USFDA nod for Sevelamer Carbonate tablets
Aurobindo Pharma surges over 8% after USFDA nod to generic drug
Author

19 July, 2017

Cadila Healthcare Ltd rose as much as 3.1 per cent to Rs 540.90 as it has launched a drug to treat ulcerative colitis in the U.S. market.

Shares of Aurobindo Pharma soared over 8 per cent today after the company received final approval from the USFDA to manufacture and market Sevelamer Carbonate tablets.

Meanwhile, the S&P BSE Sensex was up 95.99 points or 0.3% at 31,806.98.

The company's market valuation went up by Rs1,927.67 crore to Rs44,916.67 crore.

Shares of Aurobindo Pharma closed the day with 4.5 per cent gains after the company received final approval from the USFDA to manufacture and market Sevelamer Carbonate tablets in the American market.

Sevelamer Carbonate tablets are therapeutic equivalent generic version of Genzyme's Renvela tablets. The product is being launched immediately.

This is the 124th ANDA (including 21 tentative approvals) to be approved out of Unit VII formulation facility in Hyderabad, India used for manufacturing oral products.

The stock on NSE attracted a traded volume of 72,11,017 shares and a traded value of 55,938.02 lakh. The stock had hit a high of Rs 794.50 and a low of Rs 768.55 so far during the day.


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