Lupin gains after FDA approval for Decitabine

Lupin rose 1.15% to Rs 851 at 14:41 IST on BSE after the company announced it has received FDA approval for Decitabine for Injection, 50 mg/vial, Single-Dose Vial.

The announcement was made during market hours today, 15 November 2018.

Meanwhile, the S&P BSE Sensex was up 183.52 points, or 0.52% to 35,325.51

On the BSE, 46,000 shares were traded in the counter so far compared with average daily volumes of 77,000 shares in the past two weeks. The stock had hit a high of Rs 854.55 and a low of Rs 836 so far during the day.

Lupin announced that it has received approval for its Decitabine for Injection, 50 mg/vial, Single-Dose Vial from the United States Food and Drug Administration (FDA) to market a generic version of Otsuka Pharmaceutical Co. Ltd.'s (Otsuka) Dacogen for Injection, 50 mg/vial, Single-Dose Vial.

Lupin's Decitabine for Injection , 50 mg/vial, Single-Dose Vial is the generic version of Otsuka's Dacogen for Injection, 50 mg/vial, Single-Dose Vial. It is indicated for the treatment of patients with myelodysplastic syndromes (MDS) including previously treated and untreated, de novo and secondary MDS of all French-American-British subtypes (refractory anemia, refractory anemia with ringed sideroblasts, refractory anemia with excess blasts, refractory anemia with excess blasts in transformation, and chronic myelomonocytic leukemia) and intermediate-1, intermediate-2, and high-risk International Prognostic Scoring System groups.

Decitabine for Injection, 50 mg/vial, Single-Dose Vial had annual sales of approximately USD 135.9 million in the US (IQVIA MAT September 2018).

Lupin's consolidated net profit fell 41.24% to Rs 268.45 crore on 3.78% rise in total income to Rs 4182.09 crore in Q2 September 2018 over Q2 September 2017.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, 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 position in the Anti-TB segment.

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