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Aurobindo Pharma Ltd has impressed the Street with a good recovery in sales in the US during the September quarter. The US revenue in the quarter increased by 6.9 per cent YoY to Rs 2,967.6 crore, accounting for 50 per cent of consolidated revenue.
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Aurobindo Pharma Ltd impressed the Street with a good recovery in sales in the US during the September quarter. The US revenue in the quarter increased by 6.9 per cent YoY to Rs 2,967.6 crore, accounting for 50 per cent of consolidated revenue.
The stock saw gains of more than 6 per cent in morning trade on Tuesday. US sales had remained soft in Q1, keeping Street concerns elevated on increasing pricing pressure.
Aurobindo Pharma also did well with filings for new products. It filed 27 ANDAs, including five injectables with the US FDA in Q2FY22, the highest ever ANDA filings in a quarter by the company. The company has a strong pipeline of products and is growing its niche product range as injectables. There are about 54 products in the injectable space awaiting final approval for launch in the US.
Stock Covered in the news
