Aurobindo Pharma soars nearly 5% after US FDA's nod to its Gilenya Capsules

Aurobindo Pharma Share Price: Aurobindo Pharma jumped nearly five per cent in the special trading session on Saturday (March 2, 2024) after the pharma company got US FDA nod for its Gilenya Capsules.

Aurobindo Pharma ended the trading session on Saturday up by 4.83 per cent, or Rs 49.60, Rs 1076.10. 

After closing the previous session at Rs 1116.65, the pharma stock began the special trading session on Saturday at Rs 1166.50 to go to the day's high of Rs 1172.40, a jump of 4.99 per cent.  

"Aurobindo Pharma Limited is pleased to announce that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Fingolimod Capsules, 0.5 mg, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Gilenya Capsules, 0.5 mg of Novartis

Pharmaceuticals Corporation. The product will be launched in March 2024," said Aurobindo Pharma in a statement on Friday.  

The approved product has an estimated market size of US$ 447.3 million for the twelve months ending January 2024, according to IQVIA.

Aurobindo now has a total of 505 ANDA approvals (486 Final approvals and 19 tentative approvals) from USFDA.