Business IdeasAurobindo Pharma receives Swissmedic approval
Aurobindo Pharma Limited announced that it received two approvals from Swissmedic, a Switzerland government agency for therapeutic products, for the licence of Amlodipine APL 5mg and 10 mg tablets and Melformin APL 500 mg, 850 mg and 1,000 mg tablets.
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Amlodipine fall under cardio vascular disorder therapeutic segment and is used in treatment of hypertension, along or in combination with other drugs. Melformin is used in treatment of diabetes mellitus (type 2) in adults and children.
Aurobindo now has four product approvals from Swissmedic.
It also received the final approval for Risperidone oral solution 1mg/ml. This is generic equivalent of Risperdal oral solution 1mg/ml of Ortho-McNeil Janssen.
The drug, which comes under neurological segment, is used in the treatment of schizophrenia. The product has a market size of about $ 68 million (about Rs 333.3 crore) for the 12 months ending March 2009. The product would be launched shortly, the company said in a filing to the Bombay Stock Exchange(BSE). Aurobindo now has 102 abbreviated new drug approvals (ANDA) including 74 final and 28 tentative approvals from the USFDA.
Its stock traded at Rs 705.85 on Monday, up 1.46 per cent from the previous close of Rs 695.7 on the BSE.