On March 28, 2017, the US Food and Drug Administration (USFDA) granted its final approval to pharma major, Aurobindo Pharma to manufacture and market Meropenem injection. Meropenem injection is used to treat complicated skin infections, complicated intra-abdominal infections and bacterial meningitis.
A generic version of AstraZeneca Pharmaceuticals' Merrem injection, the Meropenem injection 500 mg/vial and 1 g/vial is due for launch in the next month. Meropenem is estimated to have a humongous market size of USD 118 million till the end of 2017.
While the approved Meropenem injection's abbreviated new drug application (ANDA) has become the first ANDA approved out of the pharma major's subsidiary, Auronext Pharma, located in Bhiwadi. At present the Hyderabad based company possesses 314 ANDA approvals including 16 approvals from Aurolife Pharma and 39 applications are most likely to get approvals from the USFDA.
The Company's stock is trading at Rs 675.80, down by 0.53% on BSE as on March 29, 2017, at 10:55 hrs. While it is trading at Rs 675.55, down by 0.51% on NSE.