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Share price of Aurobindo Pharma rose 2 percent intraday Tuesday on USFDA approval for Meropenem Injection.
The company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Meropenem Injection 500 mg/ vial and 1g/vial.
Meropenem injection is a generic equivalent of AstraZeneca Pharmaceuticals' Merrem injection.
The product will be launched in April 2017.
According to IMS, the approved product has an estimated market size of USD 118 million for the 12 months ending January 2017.
At 10:58 hrs Aurobindo Pharma was quoting at Rs 679.90, up Rs 9.60, or 1.43 percent on the BSE.
Posted by Rakesh Patil
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