Aurobindo Pharma in the thick of the action
Drug maker Aurobindo Pharma gained 2% to Rs 707.95 following media reports that the company is likely to announce on Friday acquisition of a Dutch formulations firm for more than $20 million.
So far there is no announcement from Aurobindo Pharma
The target company had several market authorisations and would enable Aurobindo to expand faster in Europe, a newspaper report said.
The scrip witnessed a surge over the past one month. From Rs 589.10 on 23 November, it surged 18% to Rs 695.55 on 15 December. It pared gains later before bouncing back again, to settle at Rs 693.30 on 28 December.
Aurobindo along with two other Indian firms Ranbaxy and Zydus Cadila got US FDA nod to market 5, 10, 20 and 40 mg versions of Simvastatin, the generic name of Merck’s Zocor, the cholesterol drug from December 23. This is expected to unleash fierce competition and lower prices in the US for the drug.
On 22 December, Aurobindo Pharma received tentative approval from the US Food and Drug Administration for anti-AIDS drug efavirenz in capsule forms. Efavirenz is the generic version of Bristol-Myers Squibb’s brand drug Sustiva.
Recently, Aurobindo Pharma also announced marketing authorization from Medicines Control Council (MCC) of South Africa. The council has approved Sertraline tablets in 50mg and 100mg strengths. Sertraline is the generic version of Zoloft marketed by Pfizer. Sertraline hydrochloride is a popular orally administered antidepressant of the selective serotonin reuptake inhibitor (SSRI) type.
Aurobindo Pharma is the largest manufacturer of semi-synthetic penicillin bulk drugs -- ampicillin and amoxycillin. It has integrated facilities to manufacture bulk drugs, bulk drug intermediates and formulations.
Recently, Aurobindo Pharma’s board approved the merger of APL Life Sciences and Senor Organics, the wholly owned subsidiaries of the company, with itself.
Aurobindo Pharma came out with fabulous result with a multifold growth in profits for the quarter ended September 2006. The net profit surged to Rs 54.64 crore in Q2 September 2006 from Rs 3.64 crore in Q2 September 2005. Net sales rose 50% to Rs 480 crore. Aurobindo’s thrust into regulated markets and formulation business contributed to the significantly improved performance. The exports of the company spurted strongly led by growth in Europe and the US.
The current price of Rs 707.95 discounts its 6 months April-September 2006 annualised EPS of Rs 34.10, by a PE multiple of 20.7.
So far there is no announcement from Aurobindo Pharma
The target company had several market authorisations and would enable Aurobindo to expand faster in Europe, a newspaper report said.
The scrip witnessed a surge over the past one month. From Rs 589.10 on 23 November, it surged 18% to Rs 695.55 on 15 December. It pared gains later before bouncing back again, to settle at Rs 693.30 on 28 December.
Aurobindo along with two other Indian firms Ranbaxy and Zydus Cadila got US FDA nod to market 5, 10, 20 and 40 mg versions of Simvastatin, the generic name of Merck’s Zocor, the cholesterol drug from December 23. This is expected to unleash fierce competition and lower prices in the US for the drug.
On 22 December, Aurobindo Pharma received tentative approval from the US Food and Drug Administration for anti-AIDS drug efavirenz in capsule forms. Efavirenz is the generic version of Bristol-Myers Squibb’s brand drug Sustiva.
Recently, Aurobindo Pharma also announced marketing authorization from Medicines Control Council (MCC) of South Africa. The council has approved Sertraline tablets in 50mg and 100mg strengths. Sertraline is the generic version of Zoloft marketed by Pfizer. Sertraline hydrochloride is a popular orally administered antidepressant of the selective serotonin reuptake inhibitor (SSRI) type.
Aurobindo Pharma is the largest manufacturer of semi-synthetic penicillin bulk drugs -- ampicillin and amoxycillin. It has integrated facilities to manufacture bulk drugs, bulk drug intermediates and formulations.
Recently, Aurobindo Pharma’s board approved the merger of APL Life Sciences and Senor Organics, the wholly owned subsidiaries of the company, with itself.
Aurobindo Pharma came out with fabulous result with a multifold growth in profits for the quarter ended September 2006. The net profit surged to Rs 54.64 crore in Q2 September 2006 from Rs 3.64 crore in Q2 September 2005. Net sales rose 50% to Rs 480 crore. Aurobindo’s thrust into regulated markets and formulation business contributed to the significantly improved performance. The exports of the company spurted strongly led by growth in Europe and the US.
The current price of Rs 707.95 discounts its 6 months April-September 2006 annualised EPS of Rs 34.10, by a PE multiple of 20.7.
posted by rtotla at
7:48 AM
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