Lupin advances after launching a generic drug in US

Lupin advanced 1.31% to Rs 780.20 at 15:17 IST on BSE after the company announced the launch of a generic drug in United States.

The announcement was made during market hours today, 13 March 2018.

Meanwhile, the S&P BSE Sensex was down 70.97 points or 0.21% at 33,846.97.

On the BSE, 58,000 shares were traded on the counter so far as against the average daily volumes of 1.55 lakh shares in the past one quarter. The stock had hit a high of Rs 784.50 and a low of Rs 766 so far during the day. The stock had hit a 52-week high of Rs 1,498.40 on 23 March 2017 and a 52-week low of Rs 750 on 8 March 2018.

The large-cap company has equity capital of Rs 90.42 crore. Face value per share is Rs 2.

Pharma major Lupin announced the launch of its Tydemy Tablets having received an approval from the United States Food and Drug Administration (USFDA) earlier. The tablets are indicated for use by women to prevent pregnancy and to raise folate levels in women who choose to use an oral contraceptive for contraception. It had annual sales of approximately $22 million in the US as per January 2018 data.

Lupin's consolidated net profit plunged 65% to Rs 221.73 crore on 11.5% decline in net sales to Rs 3900.36 crore in Q3 December 2017 over Q3 December 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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