Lupin gains after getting approval for Apixaban Tablets

Lupin rose 2.13% to Rs 832.45 at 13:25 IST on BSE after the company received tentative US FDA approval for Apixaban Tablets, 2.5 mg and 5 mg.

The announcement was made after market hours yesterday, 10 December 2018.

Meanwhile, the S&P BSE Sensex was up 160.31 points, or 0.46% to 35,120.03

On the BSE, 69,000 shares were traded in the counter so far compared with average daily volumes of 1.59 lakh shares in the past two weeks. The stock had hit a high of Rs 835 and a low of Rs 803 so far during the day.

Lupin announced that it has received tentative approval for its Apixaban Tablets, 2.5 mg and 5 mg from the United States Food and Drug Administration (FDA) to market a generic version of Bristol-Myers Squibb Company's Eliquis Tablets, 2.5 mg and 5 mg. It is indicated for reducing the risk of stroke and systemic embolism in nonvalvular atrial fibrillation; prophylaxis of deep vein thrombosis (DVT), which may lead to pulmonary embolism (PE), following hip or knee replacement surgery; treatment of DVT and PE and reducing the risk of recurrent DVT and PE. Eliquis Tablets, 2.5 mg and 5 mg had annual sales of approximately $6366 million in the US (IQVIA MAT September 2018).

On a consolidated basis, Lupin's net profit fell 41.24% to Rs 268.45 crore on 0.43% rise in net sales to Rs 3890.93 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 APls globally.

Powered by Capital Market - Live News