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Aurobindo Pharma Gets USFDA Approval For Generic Diovan HCT

By Shrikant Akolkar | 3/22/2013 3:42 PM Friday

Aurobindo Pharma has reported receiving final approval for the Valsartan and Hydrochlorothiazide tablets (brand name Diovan HCT held by Novartis). The drug is indicated in the treatment of hypertension to lower blood pressure. The market size of this drug is USD 1.7 billion (Rs 9350 crore) as per the company’s BSE filings. Aurobindo has said that the product is ready for launch and that this will happen soon.

Drug major Mylan has already launched an authorised generic version of this drug in USA. We believe that Aurobindo is the first to launch the generic of this drug considering that Mylan’s was an authorised generic.

We spoke to the company spokesperson, who declined to comment on the pricing and market share of the drug. However, he did say that the company expects to see about 3-4 generic players in the market. Considering this, about 20% market share looks achievable for Aurobindo. Since it is the first to launch, there would not be a massive erosion of price initially. However, as the drug has already fallen out of patent cover, new players would try to enter the market as faster as possible. Once other companies start launching their versions of the drug, the price will go down.

Considering 80% price erosion and 10% market share for Aurobindo, it can be estimated that the company may achieve revenues of about Rs 700 crore from the drug. Of course, these numbers are based on the assumption that the company makes the best of this opportunity.

With this approval, Aurobindo Pharma has a total of 181 ANDA approvals from USFDA, of which 156 are final and 25 are tentative approvals.

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Indian benchmark indices slipped below crucial level of 8300 but bounced back as the index trim early morning losses. The recovery was led by the banking, capital goods and the auto stocks. Technically index saw a good buying from lower level with good volumes.

Markets Are Likely To Open Positive

Asian markets, with the exception of Australia, turned positive by mid-morning trade on Monday, as a modestly positive lead from Wall Street offset the impact of sliding oil prices. SGX Nifty is up by 24 points. Indian markets are likely to open positive. This week is a holiday-shortened one as the market will remain closed on Thursday, 2 April 2015, on account of Mahavir Jayanti and on Friday, 3 April 2015, on account of Good Friday.

Indices Closed Flat, Bharti Airtel Down By 5.7 %.

The Indian markets witnessed some sideways session in today’s trade after sharp fall witnessed in yesterday’s session. The sectoral indices like Bankex and Capital Goods recovered from their lower ends and were up by more than 200 points each. However Healthcare and Oil & Gas continued with the negative scenario and were down around 130 points each. The Nifty closed flat and was down by 0.75 point at 8341 while Sensex was up by 1 point and closed at 27458 at the closing bell.

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Nifty may flat at opening bell

Asian equities were mixed on Friday as fears over Yemen and weak data from the world's third largest economy weighed on sentiment. SGX Nifty is marginally up by 3 points. Indian markets are likely to open flat. The next major trigger for the Indian markets is Q4 results which will start during second week of April, 2015.

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The Indian stock markets witnessed a perpendicular fall after mid-session in today’s trade. The sectoral index like Bankex and IT has been hammered badly and were tanked by 528 points and 303 points respectively. Metals, Oil & Gas, Mid-Caps and Small-Caps also surrounded under selling pressure and were down more than 100 points each.The Nifty was down by 188 points and closed at 8342 level, while Sensex was down by 654 points and closed at 27457 level. 

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