Aurobindo Pharma Surges Over 4%, Hits 52-Week High

Aurobindo Pharma shares surged as much as 5 per cent to hit 52-week high of Rs 1,462.80 on the National Stock Exchange.
  Including today's gain the stock has surged around 14 per cent in last seven trading sessions after the company said that it had received final approval from the US Food & Drug Administration (US FDA) to manufacture and market extended Phenytoin sodium capsules, which is an anti-epileptic drug used for controlling seizures.
  Aurobindo Pharma has also received final approvals from the US FDA to manufacture and market Entacapone Tablets, used in the treatment of Parkinson's disease having an estimated market size of $59 million for the twelve months ending April 2015 according to IMS, the company said in a filing on June 22.
  In another filing on June 22, the company said that it has got final approvals from the US FDA to manufacture and market Azithromycin for injection USP, a macrolide antibacterial drug indicated for the treatment of patients with infections by susceptible strains of the designated microorganisms in the conditions such as Community-Acquired Pneumonia and Pelvic Inflammatory Disease, the company said.
  Post these approvals Aurobindo Pharma has now 12 ANDAs approved out of formulation facility in Hyderabad. Analysts say the strong pipeline of new drug approvals will boost its future revenues.


Global brokerage major Citi has maintained 'buy' rating on Aurobindo Pharma Shares with a target price of Rs 1,945 per share, indicating a potential upside of over 39 per cent from yesterday's closing price. Citi says, Aurobindo Pharma is the top pick in Indian Pharma space.
  As per Citi Aurobindo Pharma shares are trading at attractive valuation of 14 times its FY17 estimated earnings per share. Improving metrics may drive further re-rating in the stock, the brokerage added.
  Aurobindo Pharma shares ended 3.40 per cent higher at Rs 1,443.25 apiece, outperforming the broader Nifty, which closed with 0.25 per cent loss.

Aurobindo Pharma shares surged as much as 5 per cent to hit 52-week high of Rs 1,462.80 on the National Stock Exchange.
  Including today's gain the stock has surged around 14 per cent in last seven trading sessions after the company said that it had received final approval from the US Food & Drug Administration (US FDA) to manufacture and market extended Phenytoin sodium capsules, which is an anti-epileptic drug used for controlling seizures.
  Aurobindo Pharma has also received final approvals from the US FDA to manufacture and market Entacapone Tablets, used in the treatment of Parkinson's disease having an estimated market size of $59 million for the twelve months ending April 2015 according to IMS, the company said in a filing on June 22.
  In another filing on June 22, the company said that it has got final approvals from the US FDA to manufacture and market Azithromycin for injection USP, a macrolide antibacterial drug indicated for the treatment of patients with infections by susceptible strains of the designated microorganisms in the conditions such as Community-Acquired Pneumonia and Pelvic Inflammatory Disease, the company said.
  Post these approvals Aurobindo Pharma has now 12 ANDAs approved out of formulation facility in Hyderabad. Analysts say the strong pipeline of new drug approvals will boost its future revenues.


Global brokerage major Citi has maintained 'buy' rating on Aurobindo Pharma Shares with a target price of Rs 1,945 per share, indicating a potential upside of over 39 per cent from yesterday's closing price. Citi says, Aurobindo Pharma is the top pick in Indian Pharma space.
  As per Citi Aurobindo Pharma shares are trading at attractive valuation of 14 times its FY17 estimated earnings per share. Improving metrics may drive further re-rating in the stock, the brokerage added.
  Aurobindo Pharma shares ended 3.40 per cent higher at Rs 1,443.25 apiece, outperforming the broader Nifty, which closed with 0.25 per cent loss.