Lupin is trading higher by 3% at Rs 917, extending its previous day’s 1.3% gain after the company said it has launched the generic version of ViiV Healthcare's (ViiV) Trizivir tablets in the US market with 180-days of marketing exclusivity.
The stock opened at Rs 897 and touched a high of Rs 919 so far on the NSE. A combined around 857,000 shares have changed hands on the counter till 1130 hours on the NSE and BSE.
The company’s US subsidiary Lupin Pharmaceuticals Inc has launched Abacavir Sulfate, Lamivudine, and Zidovudine tablets in the US market after the US District Court for the District of Delaware ruled that Lupin's generic version of Trizivir did not infringe on patents, Lupin said in a statement.
According to IMS MAT September 2013 sales data, Trizivir tablets had annual US sales of around $111.6 million, it added.
Analyst at Angel Broking maintain ‘Accumulate’ rating on the stock with a target price of Rs 930, saying that the product will contribute almost US $20-25 million during the exclusivity period.
The stock opened at Rs 897 and touched a high of Rs 919 so far on the NSE. A combined around 857,000 shares have changed hands on the counter till 1130 hours on the NSE and BSE.
The company’s US subsidiary Lupin Pharmaceuticals Inc has launched Abacavir Sulfate, Lamivudine, and Zidovudine tablets in the US market after the US District Court for the District of Delaware ruled that Lupin's generic version of Trizivir did not infringe on patents, Lupin said in a statement.
According to IMS MAT September 2013 sales data, Trizivir tablets had annual US sales of around $111.6 million, it added.
Analyst at Angel Broking maintain ‘Accumulate’ rating on the stock with a target price of Rs 930, saying that the product will contribute almost US $20-25 million during the exclusivity period.
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