Lupin drops on profit booking

Lupin declined 1.86% to Rs 1,857 at 09:25 IST on BSE on profit booking after the stock surged 7.79% in the preceding two trading sessions.

Meanwhile, the BSE Sensex was down 422.74 points, or 1.53%, to 27,185.08

On BSE, so far 10,558 shares were traded in the counter, compared with an average volume of 1 lakh shares in the past one quarter.

The stock hit a high of Rs 1,892.10 and a low of Rs 1,853.85 so far during the day. The stock hit a record high of Rs 2,112 on 8 April 2015. The stock hit a 52-week low of Rs 1,214.35 on 20 August 2014.

The large-cap company has an equity capital of Rs 89.99 crore. Face value per share is Rs 2.

Shares of Lupin had surged 5.38% to settle at Rs 1,892.10 yesterday, 20 August 2015. The stock surged 7.79% in the preceding two trading sessions to settle at Rs 1,892.10 on 20 August 2015, from a recent low of Rs 1,755.25 on 18 August 2015.

Lupin after market hours yesterday, 20 August 2015, announced that the company has received final approval from the United States Food and Drugs Administration (USFDA) for its Fenofibrate Tablets 54 mg and 160 mg, a generic version of Teva's Fenofibrate Tablets, 54 mg and 160 mg. Lupin's US subsidiary, Lupin Pharmaceuticals Inc. would commence promoting the product shortly in the US. The drug is indicated as an adjunct to diet to reduce elevated LDLC, Total-C, TG and Apo B, and to increase HDL-C in adult patients with primary hypercholesterolemia or mixed dyslipidemia and for treatment of adult patients with severe hypertriglyceridemia.

Fenofibrate Tablets 54 mg and 160 mg clocked annual sales of $156 million in the United States, as per IMS MAT June 2015 data.

Lupin's consolidated net profit fell 16% to Rs 525.02 crore on 4.3% decline in total income to Rs 3225.81 crore in Q1 June 2015 over Q1 June 2014.

Lupin is a pharmaceutical company producing and developing a wide range of branded and generic formulations as well as biotechnology products and APIs globally. The company is a significant player in the Cardiovascular, Diabetology, Asthma, Pediatric, CNS, GI, Anti-Infective and NSAID space and holds global leadership positions in the Anti-TB and Cephalosporin segment.

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