AUROBINDO PHARMA’S TELANGANA UNIT CLASSIFIED AS VOLUNTARY ACTION INDICATED BY USFDA
Aurobindo Pharma Ltd announced on Thursday that it has received an ‘Establishment Inspection Report (EIR)’ from the United States Food and Drug Administration (USFDA) following an inspection conducted in February 2024.
The US health regulator had conducted an inspection at the injectable facility of Aurobindo Pharma’s 100% step-down subsidiary Eugia SEZ Pvt Ltd. This facility is located in the Mahabubnagar district of Telangana.
The inspection was conducted from February 19 to February 29.
The pharma company has informed the stock exchanges on June 27 that the Eugia SEZ injectable facility has now received an EIR, which classifies the facility as Voluntary Action Indicated (VAI).
Earlier this month, Aurobindo Pharma signed a Master Service Agreement (MSA) with Merck Sharp & Dohme (MSD) for the production of biological products.
The collaboration aims towards exploration of contract manufacturing opportunities for biological products, thereby targeting domestic as well as international markets.
In an interview with CNBC-TV18, Satakarni Makkapati, CEO of Biologics, Vaccines and Peptides Businesses and Santhanam Subramanian, CFO of Aurobindo Pharma spoke at length about the tie-up.
For the quarter ended on March 31, 2024, Aurobindo Pharma reported a consolidated net profit of ₹909 crore, skyrocketing 79.6% on a year-on-year (YoY) basis from ₹506 crore in the same period last year.
The consolidated revenue from operations rose 17.1% YoY to ₹7,580 crore in the final quarter of FY24 as compared to ₹6,473 crore in the corresponding quarter of the previous fiscal year.
Aurobindo Pharma’s Earnings before Interest, Tax, Depreciation, and Amortisation (EBITDA) of ₹1,687 crore rose sharply by 68.3% in Q4 FY24 from ₹1,002 crore in the year-ago period, while the EBITDA margin gained 677 basis points (bps) to 22.3% in the March quarter from 15.5% last year.
Shares of Aurobindo Pharma were trading flat, down 0.8% to ₹1,191.1 per piece on the BSE at 12:50 pm on Thursday.
2024-06-27T10:05:58Z dg43tfdfdgfd