Dr Reddy s Laboratories is recalling 2,24,710 (500 count) bottles of Atorvastatin Calcium tablets. Leading home grown drug makers Sun Pharma, Dr Reddy s Laboratories, Aurobindo Pharma and Jubilant Pharma are recalling products in the U.S. market, the world s largest market for pharmaceutical products, for various reasons. As per the latest Enforcement Report by the U.S. Food and Drug Administration (USFDA), Sun Pharma is recalling Cequa ophthalmic solution, which is used to treat chronic dry eye. The U.S.-based subsidiary of the Mumbai-based drug major is recalling 37,400 cartons (60 vials per carton) of the ophthalmic solution for being subpotent , the U.S. health regulator said.
Read more about Aurobindo Pharma Ltd eases for fifth straight session on Business Standard. Aurobindo Pharma Ltd is quoting at Rs 851.3, down 1.32% on the day as on 13:19 IST on the NSE. The stock jumped 89.11% in last one year as compared to a 42.9% rally in NIFTY and a 58.89% spurt in the Nifty Pharma index.
Read more about Investors turn to pharma stocks amid market crash; Nifty Pharma gains 1.5% on Business Standard. Among individual stocks, Lupin zoomed 3.4 per cent in the intra-day trade and hit a high of Rs 1,060, Sun Pharmaceuticals advanced 2 per cent, and Dr Reddy s Labs gained 1.7 per cent.
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Aurobindo Pharma on Wednesday reported a fourfold jump in third-quarter consolidated profit to ₹2,946.3 crore, boosted mainly by one-time gains from the sale of a step-down subsidiary in the U.S.
Excluding exceptional items (net of tax), the consolidated net profit after JV share and minority interest was ₹836.6 crore, an almost 17% increase, the drugmaker said.
Revenue from operations rose 8% to ₹6,364.9 crore, the company said.
The board had approved an interim dividend of 150% or ₹1.50 per share, Aurobindo added. MD N. Govindarajan said the company firm maintained growth momentum in revenue and profitability despite COVID-19 challenges. “We are witnessing a steady progress in our speciality pipeline and continue to focus on growing our business, improving efficiencies and productivity, he said.
Shares of Aurobindo Pharma rose 5 per cent to Rs 966 in intra-day trade on the BSE on Monday, thus gaining 7 per cent in the past two trading days, on report that the government has given the company approval under the Production Linked Incentive (PLI) scheme for promotion of domestic manufacturing of critical bulk drugs. The PLI scheme aims at promotion of manufacturing of critical key starting materials (KSMs)/drug intermediates and APIs in the country.
According to a report by
Press Trust of India, Aurobindo Pharma (through Lyfius Pharma) received government approval for setting up plants for production of Penicillin-G and 7-ACA, with committed production capacity of 15,000 MT and 2,000 MT, respectively under the PLI scheme.