Aurobindo Pharma, a mid-size pharmaceutical company, witnessed a rise in share price on Thursday after the company announced that it has received the final approval from the US Food & Drug Administration (USFDA) to manufacture and market Entecavir tablets, 0.5mg and 1mg.

The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Baraclude Tablets, 0.5mg and 1mg, of Bristol-Myers Squibb.

According to IMS, Entecavir tablets are indicated for treatment of chronic hepatitis B virus infection of the liver. The product has an estimated market size of US $294 million for the twelve months ending June 2015.

Shares of Aurobindo Pharma are trading at Rs 745.50, up Rs 22.5, or 3.11% at the Bombay Stock Exchange (BSE) on Thursday at 1:36 p.m.

The scrip has touched an intra-day high of Rs 749.85 and low of Rs 733.10. The total volume of shares traded at the BSE is 88,284.