Aurobindo Pharma Share Price Rises After US FDA Approval for Manufacture of Nasal Spray

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by Sandip Das on 20 March 2024,  4 min read

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The share price of Aurobindo Pharma edged higher in the morning session on March 20, 2024, a day after the company received US FDA approval for Mometasone Furoate Monohydrate Nasal Spray.

“Aurobindo Pharma Limited is pleased to announce that it has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Mometasone Furoate Monohydrate Nasal Spray, 50 mcg/spray, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Nasonex Nasal Spray, 50 mcg/spray of Organon LLC,” the company said in a BSE filing.

“The product will be launched in Q1FY25. The approved product has an estimated market size of US$ 44.5 million for the twelve months ending January 2024, according to IQVIA. Aurobindo now has a total of 507 ANDA approvals (488 Final approvals and 19 tentative approvals) from USFDA,” the filing further added.

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“Mometasone Furoate Monohydrate Nasal Spray, 50 mcg/spray, is indicated for the treatment of the nasal symptoms of seasonal allergic and perennial allergic rhinitis, in adults and pediatric patients 2 years of age and older,” it added.

At 11:03 AM, Aurobindo Pharma’s share price added 1.21 percent or Rs 12 and was trading at 1001.40 per share on BSE.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment.

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