Aurobindo Pharma gets EIR & VIA from USFDA; stock shines

US Food & Drug Administration (USFDA) had conducted an inspection of Aurobindo Pharma’s Unit IV, a general injectable formulation manufacturing facility situated at Pashamylaram (Hyderabad) from November 4 to 13, 2019. At the end of the inspection, it was issued 'Form 483' with 14 observations.

In this regard, now, the company has received an Establishment Inspection Report (EIR) with a Voluntary Action Initiated (VAl) status from USFDA.

In the month of January, the company’s joint venture-Eugia Pharma Specialities Limited had received a final approval from USFDA to manufacture and market Methotrexate tablets, 2.5 mg.

Also, the company has entered into a definitive agreement to acquire certain business assets from Profectus BioSciences Inc. (USA) a clinical-stage vaccine development company by Auro Vaccines LLC, 100 per cent subsidiary of Aurobindo Pharma USA Inc., which in turn is 100 per cent subsidiary of the company.

On Wednesday, the stock of Aurobindo Pharma opened gap up by 10 per cent at Rs 550.20 on BSE. During the early morning session, it surged 18.7 per cent to Rs 594 from its previous close of Rs 500.20.