Aurobindo Pharma shares jumped more than 4% in morning trade after its stepdown subsidiary, Eugia Steriles received its first product approval from the United States Food and Drug Administration (USFDA) for Lidocaine Hydrochloride injection.
Lidocaine is a local anesthetic used to numb a specific part of your body to reduce pain or suffering caused by invasive medical procedures such as surgery, needle punctures, or catheter or breathing tube.
In the exchange filing, the company shared, “The new injectable facility of Eugia Steriles Private Limited (a 100% subsidiary of Eugia Pharma Specialities Limited and a stepdown subsidiary of the Company), situated at Parawada Mandal, Anakapalli District, Andhra Pradesh, which was inspected by the US FDA from March 28, 2024 to April 05, 2024, has now received its first product approval from the US FDA for Lidocaine Hydrochloride Injection, USP, 1% (10 mg/mL) and 2% (20 mg/mL). The sANDA was submitted as “Prior Approval Supplement” for addition of an alternate drug product manufacturing, labeling, packaging, and testing facility.”
As of 9:52 am, Aurobindo Pharma shares were trading 3.22% higher at Rs 1,555.95 on the NSE.
