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Lupin gets healthier after receiving USFDA nod for drug

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rose 1.07% to Rs 1,051 at 9:16 on after the company announced that it has received final approval for its Nadolol Tablets USP, 20mg, 40 mg and 80 mg from the US drug regulator.

The announcement was made after market hours yesterday, 9 October 2017.

Meanwhile, the S&P Sensex was up 85.27 points or 0.27% at 31,932.16.

On the BSE, 9,788 shares were traded on the counter so far as against the average daily volumes of 94,000 shares in the past two weeks. The stock had hit a high of Rs 1,060 and a low of Rs 1,050.95 so far during the day. The stock had hit a 52-week high of Rs 1,572.25 on 6 February 2017 and a 52-week low of Rs 920 on 21 August 2017.

announced that it has received final approval for its Nadolol Tablets USP, 20mg, 40 mg and 80 mg from the United States Food and Drug Administration (USFDA) to market a generic version of US WorldMeds LLC's Corgard Tablets, 20 mg, 40 mg and 80 mg.

The drug is indicated for management of patients with angina pectoris and for the treatment of hypertension. Nadolol Tablets USP, 20mg, 40 mg and 80 mg had annual sales of around $109.8 million in the US as per IMS MAT June 2017.

Lupin's consolidated net profit fell 59.4% to Rs 358.06 crore on 12.3% decline in net sales to Rs 3806.83 crore in Q1 June 2017 over Q1 June 2016.

is a transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 10 2017. 09:21 IST
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