Lupin gains after receiving USFDA approval for drug

Lupin rose 0.96% to Rs 929.70 at 14:16 IST on BSE after the company said it received US drug regulator's approval for generic Tamiflu Capsules.

The announcement was made during market hours today, 10 January 2018.

Meanwhile, the S&P BSE Sensex was down 23.17 points, or 0.07% to 34,420.02.

On the BSE, 2.27 lakh shares were traded in the counter so far, compared with average daily volumes of 2.75 lakh shares in the past one quarter. The stock had hit a high of Rs 932.40 and a low of Rs 915.55 so far during the day. The stock 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 9 January 2018, rising 12.29% compared with 3.59% gains in the Sensex. The scrip, however, underperformed the market in past one quarter, falling 11.44% as against Sensex's 8.15% rise. The scrip also underperformed the market in past one year, sliding 38.22% as against Sensex's 28.87% rise.

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

Lupin said it has received final approval for its Oseltamivir Phosphate Capsules USP, 30 mg (base), 45 mg (base), and 75 mg (base) from the United States Food and Drug Administration (FDA) to market a generic version of Hoffman-La Roche, Inc's Tamiflu Capsules, 30 mg, 45 mg, and 75 mg. They are indicated for the treatment of acute, uncomplicated influenza A and B in patients 2 weeks of age and older who have been symptomatic for no more than 48 hours, and prophylaxis of influenza A and B in patients 1 year and older.

Oseltamivir Phosphate Capsules USP, 30 mg, 45 mg, and 75 mg had annual sales of approximately $467.8 million in the US. (IMS 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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