“Aurobindo Pharma’s stock rose significantly after the pharmaceutical company received final approval from the US Food and Drug Administration (USFDA) to produce and sell Fingolimod capsules, 0.5 mg. These capsules are similar to the reference listed drug (RLD), Gilenya Capsules, made by Novartis Pharmaceuticals Corporation.
The company plans to launch the product in March 2024. Fingolimod capsules are used to treat patients with relapsing forms of multiple sclerosis. According to IQVIA, the approved product has an estimated market size of $447.3 million for the twelve months ending January 2024.”