Aurobindo Pharma is Citi's Top Pick, Shares Up 5%

Aurobindo Pharma on Friday rose nearly 5 per cent to Rs 778.50, outperforming the broader Nifty and Sensex.

Brokerage firm Citi has maintained a 'buy' call on Aurobindo Pharma for target price of Rs 1,120 per share. Citi says revenues could ramp up meaningfully over next few years and maintains Aurobindo Pharma as their top pick.

On Thursday, Aurobindo Pharma received approval from the US health regulator to market generic Entecavir tablets, used to treat hepatitis B, in the American market.

Aurobindo Pharma said it received the final approval from the US Food and Drug Administration (USFDA) to manufacture and market Entecavir tablets in strengths of 0.5mg and 1mg.

At 12:44 pm, Aurobindo Pharma shares were trading over 4 per cent up at Rs 774, while the Nifty and Sensex were up around 1.5 per cent.