Mumbai: Aurobindo pharma on Wednesday surged as much as 5% on bourses, a day after the domestic drug maker entered into multiple agreements with US-based Pfizer to sell generic medicines in the US and Europe.
The agreement was part of expanding Pfizer’s Established Products Business Units (EPBU), which is an arm of the multinational drug firm, which focuses on commercialization of those drugs whose market exclusivity and patents have expired.
On the Bombay Stock Exchange, the scrip opened firm at Rs161.90 and soon touched the day’s high at Rs164.90, up 5.67% from its previous close.
On the National Stock Exchange, Aurobindo pharma opened at Rs159.80 then went up 4.85% from its previous close to touch the day’s high of Rs164.
On the volume front good movement was witnessed as over 1.33 lakh shares exchanged hands on NSE and 33.63 thousand shares got traded on BSE.
Under the agreement, Pfizer has acquired the right to sell 39 generic solid oral dose products in the US and 20 in Europe coupled with additional 11 products in France, Pfizer had said in a statement.
The scrip was later trading at Rs162.90, up 4.16% on the NSE and was quoted at Rs162.90, up 4.39% on the BSE.