This Large-cap pharma company was up today, gained 1.20% in a single day
JV of this pharma company has received the permission to manufacture and market a vaccine, shares shine.
The previous day’s close of the shares was at Rs 437.25. On Tuesday, the shares opened at Rs 440.40 and made the day high at Rs 444.80.
The Company has announced that The Central Drugs Standard Control Organization (CDSCO) has granted permission to Tergene Biotech, a joint venture (JV) company of Aurobindo Pharma, to produce and market the 15-valent Pneumococcal Polysaccharide Conjugate Vaccine (PCV15), which has a three-dose schedule (3 + 0) for administration to children aged 6, 10 and 14 weeks.
The PCV15 vaccine was created by Tergene Biotech and produced by AuroVaccines, an entirely owned subsidiary of Aurobindo Pharma having expertise in the creation and production of vaccines. 80 percent of the joint venture business Tergene Biotech is owned by Aurobindo Pharma.
Aurobindo Pharma has manufacturing and commercialization of active pharmaceutical ingredients, generic medications and related services as its main business activities.
According to consolidated revenues, this well-integrated pharmaceutical business ranks among the top two in India. Almost 90% of Aurobindo's revenue comes from international activities, which it exports to many different nations around the world. Some of its top clients are multinational corporations. Aurobindo utilises in-house R&D for quick filing of patents, Drug Master Files (DMFs), Abbreviated New Drug Applications (ANDAs) and Formulation Dossier across the globe. Multiple facilities are approved by leading regulatory agencies, including USFDA, EU GMP, UK MHRA, South Africa-MCC, Health Canada, WHO and Brazil ANVISA. It is one of India's top filers of DMFs and ANDAs.
The 52-week high of the stock is Rs 742.25 whereas the 52-week low was at Rs 434.40.
Shares closed on Tuesday at Rs 442.50.
Promoters of the company are holding 51.84 % stake of the company whereas the Institutional and Non-Institutional holdings are 37.97 % and 10.20 % stake respectively.
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