Aurobindo Pharma is today amongst the top five gainers on the BSE, rising over 8% to Rs.794.50. Its 52-week high is at Rs.895.

The stock is happy that its Sevelamer Carbonate tablets, used for the control of serum phosphorus in patients with chronic kidney disease (CKD) on dialysis, has received the US FDA approval. The product is now ready for launch immediately.

The approved product has an estimated market size of US$ 1.9 billion for the twelve months ending May 2017 according to IMS.

Various brokerages have given it a thumbs up – Deutsche Bank expects annual sales of $128 million while Motilal Oswal expects sales to the tune of $125-150 million.