Meanwhile, the S&P BSE 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 2 June 2017 and a 52-week low of Rs 920 on 21 August 2017.
Lupin 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.
Lupin 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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