Views on Aurobindo Pharma receive USFDA Approval for Omeprazole & Ibandraonate Sodium - Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking)

Aurobindo Pharma receives USFDA Approval for Omeprazole & Ibandraonate Sodium:

Aurobindo Pharma has received final approvals from the US Food & Drug Administration (USFDA) to manufacture and market Ibandronate Sodium Injection 3mg/3mL (1mg/mL), (ANDA 205332) & Omeprazole Delayed-release Capsules USP 10mg, 20mg and 40mg (ANDA 203270).

Omeprazole Delayed-release Capsules are indicated for short-term treatment of active duodenal ulcer in adults. The product has an estimated market size of US$ 422mn for the twelve months ending June 2015 according to IMS. The market for the Omeprazole Delayed-release capsules is highly competitive.

Ibandronate Sodium Injection 3mg/3mL (1mg/mL) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Boniva® Injection 3mg/3mL (1mg/mL) of Hoffmann-La Roche, Inc. Ibandronate Sodium Injection is indicated for the treatment of osteoporosis in postmenopausal women. The Ibandronate Sodium Injection is competitive with 4-5 players already in the market and has estimated sales of ~US$ 20mn.

Thus, given the competitive landscape of Omeprazole Delayed-release capsules and small size of Ibandronate Sodium Injection, we think the drugs will not contribute significantly to sales. We are Neutral on the stock.

Shares of AUROBINDO PHARMA LTD. was last trading in BSE at Rs.798.45 as compared to the previous close of Rs. 817.3. The total number of shares traded during the day was 241015 in over 6770 trades.

The stock hit an intraday high of Rs. 832.5 and intraday low of 796.45. The net turnover during the day was Rs. 196282431.

Source : Equity Bulls

Keywords