INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of Aurobindo Pharma rose as much as 2.18 per cent in early morning trade after the company announced it has received final
The product will be launched in July this year, the company said in its BSE filing.
The approved product has an estimated market size of US$
387 million for the twelve months ending April 2018 according to IQVIA
Ertapenem injection is used for the treatment of moderate to severe infections caused by susceptible bacteria
Also indicated in adults for the prophylaxis of surgical site infection following elective colorectal surgery, the company said in its press
release.
Centrum Broking has maintained a buy rating on the scrip, with a target price of Rs 1,070 based on 18x March 2020E EPS of Rs 59.3,
and with an upside of 99.9 per cent from CMP (closing market price)
However, EBITDA margin was below expectation, the brokerage said in its June 4 report.
Its specialised segments such as injectables, penam,
microspheres, hormones, oncology, vaccines, neutraceutical, depot injections and peptides would improve margins due to complexity in the
APL has developed a robust pipeline of 478 ANDAs for the US market through differentiated products, the brokerage said further.
At 10:56 am,
shares of the company were trading at Rs 616.70 apiece on BSE, up 1.48 per cent
