Aurobindo Pharma witnessed a sharp rise in share price on Wednesday after the company  has received final approval from the US Food & Drug Administration (USFDA) to manufacture Sevelamer Carbonate tablets 800mg.

Sevelamer Carbonate tablets, a therapeutic equivalent generic version of Genzyme's Renvela tablets. The product is being launched immediately.

Shares of Aurobindo Pharma are trading at Rs 774.25, up Rs 40.5, or 5.52% at the Bombay Stock Exchange (BSE) on Wednesday at 10:33 a.m.

The scrip has touched an intra-day high of Rs 794.50 and low of Rs 766.10. The total volume of shares traded at the BSE is 407,091.

Total volume of shares traded on the bourses today was higher by 86.87% to 7,598,311 compared with 22-day average volume of 4,066,135.