Aurobindo Pharma’s share price plunged 2.5% intraday after its subsidiaries participated in a sub-licensing pact with a medicines patent pool for Nilotinib Capsules.

Aurobindo Pharma mentioned its wholly owned subsidiary, Eugia Pharma Specialities Limited (Eugia), entered into an unpaid sub-licensing agreement with Medicines Patent Pool (MPP) to market Nilotinib capsules, initially developed by Novartis for the chronic myeloid leukaemia treatment in 44 low and middle-income nations. These comprise the seven countries where patents on the drug are awaiting or in force.

The product will be produced at Eugia Pharma’s unit Medchal in Telangana’s Malkajgiri district.
At 12:06 pm, Aurobindo Pharma was trading at Rs 687, up Rs 15.80, or 2.35%, on the BSE.

The share moved a 52-week high of Rs 692 on June 19, 2023, and a 52-week low of Rs 397.30 on February 3, 2023. It trades 0.72% below its 52-week high and 72.92% above its 52-week low.