Aurobindo Pharma shares rise 2% on USFDA nod for nasal spray
The pharma company has received approval to manufacture and market Mometasone Furoate Monohydrate Nasal Spray 50 mcg, which will be launched in Q1 FY25.
The pharma company has received approval to manufacture and market Mometasone Furoate Monohydrate Nasal Spray 50 mcg, which will be launched in Q1 FY25.
The innovation segment is dominated by pharma services (CDMO, CRO, pharma IT) and health-tech with vaccines and biotech, and med-tech emerging as green shoots
The USFDA conducted the pre-approval inspection at the company’s oral-oncology manufacturing facility situated in Bileshwarpura, Gujarat from December 5 to December 11 last year.
The industry expects an enhanced healthcare spend of 2.5% of GDP to boost infrastructure and R&D activities.
The share price of Cipla touched a new record high of ₹1,408.55, while market capitalisation climbed to ₹1.12 lakh crore.
Shares of Innova Captab listed at ₹452.1 on the NSE, up 0.9% over IPO price of ₹448; the pharma company debuted 1.8% higher at ₹456.10 on the BSE
Piramal Enterprises says it will also keep aside funds to cover exposure to AIFs
Biocon Biologics, a subsidiary of Biocon, has signed a distribution agreement with Sandoz for an immunity-linked injection in Japan.
The homegrown pharma company has outperformed the BSE Sensex and Healthcare index in terms of returns in the last one year.
Three private equity funds, namely Chrys Capital, Capital Group, and Everbridge Partners, were reportedly looking to sell stakes worth $592 million in Mankind Pharma via the block deal.