BOM:524804

Aurobindo Pharma Inaugurates Biologics Contract Manufacturing Facility in Telangana, India

Aurobindo Pharma (NSE:AUROPHARMA, BOM:524804) on Wednesday inaugurated a biologics contract manufacturing facility of its subsidiary Theranym Biologics at Borapatla in Telangana, India, according to a same-day filing to the Indian stock exchanges.This marks Aurobindo's foray into biologics contract manufacturing.The company has roped in pharmaceutical company MSD as an anchor customer for the facility and will help to support the latter's supply chain in both domestic and export markets.

Phillip Securities Downgrades Aurobindo Pharma to Neutral from Buy, Price Target is INR1,620

IIFL Downgrades Aurobindo Pharma to Add from Buy; Price Target is INR1,540

Aurobindo Pharma Posts Marginal Gains in Fiscal Q4 Consolidated Net Profit; Shares Fall 6%

Aurobindo Pharma (NSE:AUROPHARMA, BOM:524804) reported a slight increase in its consolidated attributable net profit to 9.21 billion Indian rupees in the fiscal fourth quarter ended March 31, against 9.03 billion rupees a year ago.Shares of the company fell over 6% in Friday's trade.Earnings per share inched up to 15.86 rupees compared with the year-ago figure of 15.56 rupees, according to a Thursday filing to the Indian stock exchanges by the pharmaceutical manufacturer.Revenue from operations in fiscal Q4 increased to 87.5 billion rupees from 83.8 billion rupees a year earlier.

Aurobindo Pharma Gets US FDA's Voluntary Action Indicated Classification for Telangana, India Unit; Shares Up 3%

Aurobindo Pharma (NSE:AUROPHARMA, BOM:524804) has received a "voluntary action indicated" from the US Food and Drug Administration (US FDA) after the inspection of its oral solid dosage manufacturing unit in the Mahaboobnagar district of Telangana, India.The inspection, which was conducted between Jan. 28 and Feb. 10, resulted in the US FDA issuing a 'Form 483' with nine observations, according to a Wednesday filing to the Indian stock exchanges.With this classification, the inspection is now closed.The company's shares were up over 3% in recent trade.

Aurobindo Pharma Unit CEO Resigns; Shares Up 3%

Aurobindo Pharma (NSE:AUROPHARMA, BOM:524804) said Sanjay Chaturvedi has resigned as chief executive officer of the company's wholly owned subsidiary, Apitoria Pharma, effective May 4.Chaturvedi has stepped down to pursue another opportunity, according to a Monday filing on Indian bourses.Shares of Aurobindo Pharma rose over 3% in Tuesday's trade.

Aurobindo Pharma Chief Business Officer for Emerging Markets Retires

Aurobindo Pharma (NSE:AUROPHARMA, BOM:524804) said its chief business officer for emerging markets N. Ravi Kiran will retire from the company, effective April 30, according to a same-day filing on Indian bourses.

Indian Equities Extend Gains on Friday as Broad-Based Buying Lifts Market

Indian benchmark indices ended higher on Friday as broad-based buying lifted markets, supported by gains in consumer goods and oil & gas stocks.The BSE Sensex rose 504.86 points, or 0.7%, to close at 78,493.54, while the NSE Nifty 50 gained 156.80 points, or also 0.7%, to settle at 24,353.55.Sentiment improved on expectations of easing tensions in the Middle East. Reports of a possible progress in U.S.-Iran negotiations and a potential extension of the ceasefire supported risk appetite.A sharp decline in crude oil prices further supported the market.In corporate developments, Bajaj Consumer Care (NSE:BAJAJCON, BOM:533229) reported a rise in consolidated profit to 636.0 million rupees in the fiscal fourth quarter from 309.8 million rupees a year earlier.Aurobindo Pharma (NSE:AUROPHARMA, BOM:524804) received U.S. FDA approval to manufacture and market Glycerol Phenylbutyrate Oral Liquid. The product is equivalent to the reference drug Ravicti and will be launched immediately, the company said in a Friday filing.

Aurobindo Pharma Gets US FDA's Final Nod for Glycerol Phenylbutyrate Oral Liquid

Aurobindo Pharma (NSE:AUROPHARMA, BOM:524804) has received final approval from the US Food and Drug Administration (US FDA) to manufacture and market Glycerol Phenylbutyrate Oral Liquid, according to a Friday filing to the Indian stock exchanges.The drug is bioequivalent and therapeutically equivalent to Horizon Therapeutics' reference-listed drug Ravicti Oral Liquid. It will be manufactured in the company's third unit and will be launched immediately.Glycerol Phenylbutyrate is used as a nitrogen-binding agent for chronic management of patients with urea cycle disorders.According to IQVIA's estimates, Horizon has an estimated market size of $50.2 million for the 12 months ended February.