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Aurobindo Pharma shares rise 3% on USFDA approval for 3 drugs

Aurobindo Pharma   shares gained nearly 3 percent intraday Wednesday after it received approvals from the US health regulator for three drugs, including Zoledronic filed from unit IV that inspected during the month. The Hyderabad-based pharma company has received approval from US Food and Drug Administration for Levonorgestrel- Ethinyl Estradiol oral and Norethindrone tablets, which both are contraceptive pill. It also received approval for Zoledronic acid (also called Zometa) that is used to treat paget’s disease of bone due to high levels of calcium. Sources told CNBC-TV18 that Zoledronic acid drug was filed from its unit IV that was inspected by US FDA in September and had received 2-3 observations. Aurobindo has the strongest run of approvals within Indian pharma companies and above three approvals indicated that the spate of approval continued. It received approval for 20 drugs in Q1FY17, including seven tentative approvals.

 

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