Lupin gains after relaunching a drug in US

Lupin rose 2.26% to Rs 1,612.80 at 10:19 IST on BSE after the company announced that its US subsidiary has re-introduced Methergine (methylergonovine maleate) Oral Tablets 0.2mg in the US for the prevention and management of postpartum hemorrhage.

Lupin made the announcement at fag end of the trading session yesterday, 28 April 2016. The stock had risen 0.44% to settle at Rs 1,577.15 on that day.

Meanwhile, the S&P BSE Sensex was up 94.17 points or 0.37% at 25,697.27.

On BSE, so far 42,000 shares were traded in the counter as against average daily volume of 3.53 lakh shares in the past one quarter. The stock hit a high of Rs 1,617.65 and a low of Rs 1,569.60 so far during the day. The stock had hit a record high of Rs 2,127 on 6 October 2015. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had outperformed the market over the past one month till 28 April 2016, gaining 5.48% compared with Sensex's 2.55% rise. The scrip had, however, underperformed the market in past one quarter, sliding 7.61% as against Sensex's 4.63% rise.

The large-cap company has equity capital of Rs 90.14 crore. Face value per share is Rs 2.

Lupin and its US subsidiary, Lupin Pharmaceuticals, Inc. have announced the re-introduction of Methergine (methylergonovine maleate) Oral Tablets 0.2mg in the US for the prevention and management of postpartum hemorrhage (PPH). Methergine is the only FDA-approved oral uterotonic and is a preferred oral agent in the management of PPH, according to guidelines issued by the American Congress of Obstetricians and Gynecologists (ACOG).

Lupin's consolidated net profit declined 11.9% to Rs 529.75 crore on 6.8% growth in net sales to Rs 3357.66 crore in Q3 December 2015 over Q3 December 2014.

Lupin is a pharmaceutical company producing and developing 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 positions in the anti-TB and cephalosporin segment.

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