Moneycontrol Bureau
Shares of Dr Reddy’s Labs gained 1 percent and Aurobindo Pharma rose 0.8 percent in early trade Thursday on getting approval from the US health regulator for anti-muscarinic and anti-clotting drugs, respectively.
Pharma major Dr Reddy's Laboratories has received tentative approval from the US Food and Drug Administration to its abbreviated new drug application (ANDA) for Fesoterodine Fumarate, a generic version of Toviaz.
It is an antimuscarinic drug used for the treatment of overactive bladder with symptoms of urinary frequency, urgency, and leakage.
Meanwhile, Aurobindo Pharma has received tentative approval from the USFDA for Angiomax, a generic version of Bivalirudin.
It is a 13th drug approval from USFDA in current quarter, out of which the company has received approval for nine drugs in December itself.
Additionally, Aurobindo is the outperformer in 2015. It has not received any negative news from the USFDA during the year but has strong run rate for drug approvals, in fact better than peers.
At 09:29 hours IST, the scrip of Dr Reddy's Laboratories was quoting at Rs 3,140.70, up Rs 19.30, or 0.62 percent and Aurobindo Pharma was trading at Rs 876.05, up Rs 5.25, or 0.60 percent on the BSE.Posted by Sunil Shankar Matkar
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