| Company | Value | Change | %Change |
|---|
“…CuraTeQ Biologics s.r.o., a step-down subsidiary of the Company has obtained marketing authorisation from UK’s Medicines and Healthcare products Regulatory Agency (MHRA) for Bevqolva, its bevacizumab biosimilar version,” Aurobindo Pharma said in a regulatory filing
Bevqolva 25 mg/mL concentrate for infusion will be available in 4 mL (100 mg) and 16 mL (400 mg) single-use vials for infusion into veins.
Also Read: Aurobindo Pharma arm CuraTeQ gets European body’s nod for filgrastim biosimilar
Bevacizumab is used in the treatment of multiple cancers including metastatic colorectal cancer, recurrent or metastatic non-squamous non-small cell lung cancer, advanced and/or metastatic renal cell carcinoma, cervical cancer and epithelial ovarian, fallopian tube and primary peritoneal cancer.
Aurobindo Pharma reported an 85% year-on-year (YoY) jump in net profit at ₹757.2 crore for the second quarter that ended September 30, 2023. In the corresponding quarter last year, Aurobindo Pharma posted a net profit of ₹409.4 crore, the company said in a regulatory filing. The CNBC-TV18 poll had predicted a profit of ₹665 crore for the quarter under review.
The company’s revenue from operations increased 25.8% to ₹7,219.4 crore against ₹5,739.3 crore YoY, beating the CNBC-TV18 poll’s prediction of ₹6,915 crore for the quarter under review.
Also Read: Aurobindo Pharma’s API unit in Telangana gets 2 US FDA observations
At the operating level, EBITDA jumped 73.7% to ₹1,373.5 crore in the second quarter of this fiscal over ₹791 crore in the year-ago period. The was lower than the CNBC-TV18 poll’s EBITDA forecast of ₹1,206.3 crore.
The EBITDA margin stood at 19% in the reporting quarter compared to 13.6% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. The CNBC-TV18 poll had predicted a margin of 17.4% for the quarter under review.
On Friday (December 20), shares of Aurobindo Pharma Ltd ended at ₹1,240.70, down by ₹14.70, or 1.17% on the BSE.
Also Read: Aurobindo Pharma unit Eugia gets USFDA nod for Pazopanib tablets
