Lupin gains after US subsidiary launches generic for Celebrex

Lupin gained 0.77% to Rs 1,441.95 at 13:00 IST on BSE after the company announced that its US subsidiary launched the authorized generic for G.D. Searle LLC's Celebrex Capsules.

The company made the announcement during market hours today, 11 December 2014.

Meanwhile, the BSE Sensex was down 221.41 points, or 0.80%, to 27,616.43.

On BSE, so far 19,741 shares were traded in the counter, compared with an average volume of 59,300 shares in the past one quarter.

The stock hit a high of Rs 1,442.80 and low of Rs 1,418.05 so far during the day. The stock hit a record high of Rs 1,500 on 24 November 2014. The stock hit a 52-week low of Rs 855 on 30 January 2014.

Shares of pharma major had outperformed the market over the past one month till 10 December 2014, rising 0.03% compared with 0.16% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 6.41% as against Sensex's 2.86% rise.

Lupin announced that its US subsidiary, Lupin Pharmaceuticals Inc. has launched the authorized generic for G.D. Searle LLC's, a subsidiary of Pfizer Inc. Celebrex Capsules (Celebrex) 50 mg, 100 mg, 200 mg and 400 mg strengths. Lupin had earlier signed a licensing agreement with Pfizer Inc. regarding Celebrex. Celebrex Capsules had annual US sales of $2.54 billion as per IMS MAT September, 2014.

Lupin's consolidated net profit jumped 55.1% to Rs 630.04 crore on 19.4% rise in total income to Rs 3283.64 crore in Q2 September 2014 over Q2 September 2013.

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