Lupin gains after launching generic Ancobon capsules in US

Lupin gained 1.71% to Rs 892.50 at 14:17 IST on BSE after the company announced the launch of generic Ancobon capsules in the US.

The announcement was made during market hours today, 5 January 2018.

Meanwhile, the S&P BSE Sensex was up 151.42 points, or 0.45% to 34,121.06.

On the BSE, 1.6 lakh shares were traded in the counter so far, compared with average daily volumes of 2.64 lakh shares in the past two weeks. The stock had hit a high of Rs 898.20 and a low of Rs 876.20 so far during the day. The stock had hit a 52-week high of Rs 1,572.25 on 6 February 2017. The stock hit a 52-week low of Rs 807 on 6 December 2017.

The stock had outperformed the market over the past one month till 4 January 2018, gaining 7.75% compared with the Sensex's 3.35% rise. The scrip had, however, underperformed the market over the past one quarter, falling 14.57% as against the Sensex's 7.26% rise. The scrip had also underperformed the market over the past one year, dropping 41.28% as against the Sensex's 27.55% rise.

The large-cap company has equity capital of Rs 90.41 crore. Face value per share is Rs 2.

Lupin announced the launch of its Flucytosine capsules USP, 250 mg and 500 mg having received an approval from the United States Food and Drug Administration (USFDA) earlier.

Novel's Flucytosine capsules USP, 250 mg and 500 mg are AB rated generic equivalent of Valeant Pharmaceuticals International Inc's ANCOBON Capsules, 250 mg and 500 mg. The drug is indicated for the treatment of serious infections caused by susceptible strains of Candida and/or Cryptococcus.

The capsules had annual sales of around $48 million in the US as per MAT October 2017.

Lupin's consolidated net profit fell 31.3% to Rs 455.01 crore on 8% decline in net sales to Rs 3874.16 crore in Q2 September 2017 over Q2 September 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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