Aurobindo has received tentative approval from US Food and Drug Administration for Esomeprazole magnesium (Nexium generic), which has market size of around USD 1.8-2 billion.
Ramesh Swaminathan, President Finance & Planning, Lupin says worldwide companies are also facing wrath of the US FDA.
Higher profitability was a result of overall topline growth and leverage on cost base, said Subhanu Saxena, MD & CEO in an interview with CNBC-TV18. However, Esomeprazole sales impact will taper off in balance of this fiscal, he added.
Shares in homegrown pharmaceuticals firm Ranbaxy Labs rose 1.8 percent in early Mumbai trading after a US federal court ruled in its favour in a landmark “pay-to-delay†case.