Aurobindo Pharma shares gained around 1 per cent on the bourses on Monday after it announced that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Azithromycin for Injection USP, 500mg /vial (ANDA 203294).
Azithromycin for Injection USP, 500mg /vial is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Zithromax (Azithromycin for Injection) 500mg/vial of Pfizer, Inc. Azithromycin for injection, USP is a macrolide antibacterial drug indicated for the treatment of patients with infections caused by susceptible strains of the designated microorganisms in the conditions such as Community-Acquired Pneumonia and Pelvic Inflammatory Disease.
After the approval, brokerage house Angel Broking also turned bullish on Aurobindo Pharma. Sarabjit Kour Nangra, VP Research, Pharma, Angel Broking, says, "The share price of the company can touch Rs 1,654 in the next few quarters."
On Monday, shares of Aurobindo Pharma jumped 0.85 per cent to 1,370.40 against its previous close.