Aurobindo Pharma shares jumped 2% to an intraday high of Rs 1,265 on the BSE after its wholly owned step-down subsidiary CuraTeQ Biologics received approval from the UK‘s Medicines and Healthcare products Regulatory Agency (MHRA) for Bevgolva, a biosimilar version of bevacizumab, which is used to treat multiple cancers, including metastatic colorectal cancer.
Bevgolva, a 25 mg/mL concentrate for infusion, will be available in 4 mL (100 mg) and 16 mL (400 mg) single-use vials for intravenous administration. The drug is also indicated for non-squamous non-small cell lung cancer, advanced renal cell carcinoma, cervical cancer, and ovarian-related cancers.
The approval comes amid other notable updates for Aurobindo Pharma. Last week, the USFDA issued two observations following an inspection of its Unit-V API manufacturing facility at Apitoria Pharma in Telangana.
Earlier this month, the European Medicines Agency (EMA) recommended marketing authorization for Zefylti, a filgrastim biosimilar developed by CuraTeQ Biologics.
In another development, Aurobindo’s subsidiary, Eugia Pharma Specialities, secured USFDA approval to produce and market Pazopanib Tablets, 200 mg. The drug, a bioequivalent to Novartis’ Votrient Tablets, is expected to launch in Q4FY25.
In Q2 FY25, Aurobindo Pharma reported an 8.6% year-on-year (YoY) rise in net profit to Rs 817 crore, driven by strong sales in Europe and growth markets. The company posted a net profit of Rs 752 crore in the corresponding quarter of the previous year. On a quarter-on-quarter (QoQ) basis, net profit declined by 11%.
Meanwhile, its revenue from operations increased by 8% YoY to Rs 7,796 crore in Q2 FY25. The earnings before interest, tax, depreciation, and amortization (EBITDA) before forex and other income rose 11.6% to Rs 1,566 crore. The EBITDA margin for the quarter increased by 65 basis points YoY to 20.1%.
On Friday, Aurobindo Pharma’s shares closed at Rs 1,240.70, marking a decline of 1.17%, on the BSE.
%20In%20Drug%20Development){kind=link}