Lupin Limited has moved higher by 2% at Rs 564 on the Bombay Stock Exchange after the company said that its subsidiary has received a final approval for its Irbesatan tablets from the United States Food and Drugs Administration (FDA) to market a generic version of Sanofi Aventis, Avapro tablets.
“Lupin’s Irbesartan tablets 75 mg, 150 mg and 300 mg are the AB-rated generic equivalent of Sanofi Aventis’s Avapro tablets. Irbesartan is an angiotensin II receptor antagonist and is indicated for the treatment of hypertension and nephropathy in Type-2 diabetic patients,” the pharmaceutical company said in a filing.
According to IMS MAT June 2012 sales, Avapro tablets had annual US sales of approximately $400.7 million, it added.
The stock opened at Rs 555 and has seen a combined 181,927 shares changing hands on the counter in morning trades on both the exchanges.