Mar 28, 2013 12:58 PM IST | Source: Moneycontrol.com

Aurobindo Pharma jumps as FDA removes Unit VI import ban

Shares of Aurobindo Pharma surged more than 8 percent on Thursday after it said the US Food and Drug Administration has lifted the import alert for non-sterile products manufactured in its unit VI cephalosporin facility in Hyderabad, Andhra Pradesh.

Aurobindo Pharma jumps as FDA removes Unit VI import ban

Moneycontrol Bureau

Shares of Aurobindo Pharma surged more than 8 percent on Thursday after it said the US Food and Drug Administration has lifted the import alert for non-sterile products manufactured in its unit VI cephalosporin facility in Hyderabad, Andhra Pradesh.

This will pave the way for resuming exports of 9 products to the US market from the plant, the drug maker said.

The production facility that makes the anti-bacterial drug was audited by the USFDA in December 2010 and the drug regulator had issued an import alert in Feb 2011.

The unit had annual sales of USD 33 million prior to the import alert, Aurobindo said.

At 11:45 hrs, Aurobindo shares were up 8.9 percent at Rs 142.10 on NSE.

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