Aurobindo Pharma drops

Aurobindo Pharma dropped 2.07% to Rs 282.15 at 14:07 IST on BSE even as the company received approval from the US Food and Drug Administration for its antibiotic minocycline hydrochloride in capsule forms.

The stock hit a high of Rs 290 and a low of Rs 282.05 so far during the day. The stock had a 52-week high of Rs 820 on 2 July 2007 and a 52-week low of Rs 233 on 22 January 2008.

The company’s current equity is Rs 26.88 crore. Face value per share is Rs 5.

The current price of Rs 282.15 discounts its Q3 December 2007 annualized EPS of Rs 41.11, by a PE multiple of 6.86.

Aurobindo Pharma’s net profit declined 8.1% to Rs 55.25 crore on 2.2% growth in net sales to Rs 510.78 crore in Q3 December 2007 over Q3 December 2006.

On 1 February 2008, Aurobindo Pharma bagged a contract worth Rs 70 crore for supplying three products to United Nations Office for Project Services, a non-government organization established by the United Nations.

In November 2007, the company received approvals for five drugs from the US Food and Drug Administration (USFDA).

Aurobindo Pharma is engaged in developing, manufacturing and marketing active pharmaceutical ingredients, intermediates and generic formulations.