Eugia Pharma is a wholly-owned subdiairy of Aurobindo Pharma. The US Food and Drug Administration (USFDA) has also issued official class indicated (OAI) status to the unit.
Unit 1 of Eugia Pharma Specialties contributes 2% to Aurobindo Pharma’s overall group revenue. The company in an exchange filing said there is no impact on the existing supplies to the US markets.
It said it remains committed to working closely with the USFDA and continues to enhance its compliance on an ongoing basis.
Last week, Aurobindo Pharma reported its first quarter earnings, which beat estimates across all key parameters.
Its net profit of ₹1,032 crore was above the CNBC-TV18 poll of 982 crore and up 25.2% from last year’s 824 crore.
Its revenue increased 16.3% to ₹9,150.3 crore from last year’s 7,868 crore and was above Street estimates of ₹9,030 crore.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) increased 17.3% to ₹1,881 crore from ₹1,603 crore in the first quarter last fiscal and above Street expectations of ₹1,848 crore.Its margins expanded to 20.6% from the estimated 20.5%.
Its board of directors also approved the merger of Eugia Steriles, Eguia SEZ into Eugia Pharma Specialties.
Shares of Aurobindo Pharma were trading 2% lower at ₹1,628.8 apiece at 10 am on Friday. The stock has fallen 5% in the past month and is up 36.5% this year, so far.
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