Lupin rises on hopes of launching anti-AIDS drug in the US
The Combivir in the US has a total market size of around $315 million annually.
Lupin has rallied 6% to Rs 544 in otherwise weak market in noon deals, on reports that the drug maker is expected to soon launch its generic version of the anti-HIV drug, Combivir, in the United States.
“The company received a tentative approval last year from the US Food and Drug Administration (FDA) for the generic drug in two strengths — of 150 mg and 300 mg, is waiting for the final approval from the market regulator,” the report suggests.
The Combivir in the US has a total market size of around $315 million annually, added report.
The stock opened at Rs 518 and touched high of Rs 550 on the National Stock Exchange. A combined 592,130 shares have changed hands on the counter so far, against an average around 650,000 shares that were traded daily in past two weeks on both the exchanges.