Aurobindo Pharma’s unit IV gets a reprieve; focus on new filings
The US business has been scaling up, with growth largely coming organically. US revenues are up 48% since Q1 FY19
It is little wonder that despite doubling from its 52-week lows, the Aurobindo Pharma stock is still 23% lower compared to its 52-week high last April
The US Food and Drug Administration’s (US FDA’s) clean chit to unit IV of Aurobindo Pharma Ltd removes a long-standing overhang. Sales from this unit, which accounts for about 9-10% of the firm’s US revenues, can now be ramped up.
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