Aurobindo Pharma gains on tentative nod for HIV drug
Aurobindo Pharma has moved higher by 4.4% to Rs 842 on the BSE after the company announced that it has received tentative approval for Dolutegravir 50mg from US Food & Drug Administration (USFDA). The drug is used for the treatment of HIV.
Dolutegravir 50mg is indicated for the treatment of HIV-1 infection in combination with other antiretroviral agents.
“The approved Abbreviated New Drug Application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Tivicay®, of ViiV Healthcare," Aurobindo Pharma said in a press release.
ViiV Healthcare and Aurobindo Pharma signed a licensing agreement in 2014 that allows Aurobindo Pharma to supply Dolutegravir 50mg in 92 licensed countries, following completion of required local regulatory approval processes, it added.
At 12:49 pm, the stock up 4% at Rs 839 on the BSE, as compared to 0.73% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 4.2 million shares changed hands on the BSE and NSE so far.