Analysts Optimistic On Aurobindo After Strong Earnings
Analysts are enthusiastic about the US earnings prospects of leading Indian generic firm Aurobindo after the company reported a nearly 20% jump in consolidated net profit for the third quarter, and declared it would focus on digesting its acquisitions.
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The US Food and Drug Administration has issued Aurobindo with a warning letter for an API site, shortly after one of its formulations plants received yet another Form 483, with ten observations.
The US Food and Drug Administration has flagged more problems at Aurobindo, issuing another Form 483 to the company over one of its plants in southern India. This one, containing 11 observations, sharply faults quality controls.
With an optimized manufacturing base, a narrower geographic footprint, and a tighter portfolio focus on differentiated biosimilars and hard-to-make generics, Novartis believes a more autonomous Sandoz division can remain an “integral part” of the Swiss group.