Aurobindo Pharma share price rose nearly 2 percent in the early trade on March 20 after the company received US Food & Drug Administration (USFDA) approval for nasal spray.
At 9.18am, Aurobindo Pharma was quoting at Rs 1,003.90, up Rs 14.50, or 1.47 percent, on the BSE.
The company has the received final approval from the USFDA to manufacture and market Mometasone Furoate Monohydrate Nasal Spray, 50 mcg/spray, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Nasonex Nasal Spray, 50 mcg/spray of Organon LLC, it said in a release.
Mometasone Furoate Monohydrate Nasal Spray is indicated for the treatment of the nasal symptoms of seasonal allergic and perennial allergic rhinitis in adults and children.
The product will be launched in the first quarter of FY25.
Catch all market action in our live blog
Earlier this month, Aurobindo Pharma's subsidiary CuraTeQ Biologics Private Limited announced that its Omalizumab biosimilar candidate BP11 met the Phase 1 trial end points vis-à-vis the EU and US sourced reference product Xolair.
The US agency had earlier raised procedural and cleanliness issues in company's subsidiary Eugia Pharma SEZ unit in Telangana, reported CNBC-TV 18.
Eugia Pharma Specialities Ltd, a wholly-owned subsidiary, has started distribution of aseptic products manufactured at Unit III, which was temporarily suspended.
The share touched a 52-week high of Rs 1,177 on January 30, 2024 and a 52-week low of Rs 466 on March 21, 2023. The stock is trading 14.71 percent below its 52-week high and 115.43 percent above its 52-week low.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
