Lupin gains after USFDA nod for generic ulcer drug

Lupin rose 0.86% to Rs 1,915 at 09:38 IST on BSE after the company received final approval from the US drug regulator to market a generic version of AstraZeneca Pharmaceuticals LP's Prilosec Delayed-Release capsules 40mg.

Meanwhile, the BSE Sensex was up 272.95 points, or 1.04% to 26,504.14

On BSE, so far 16,825 shares were traded in the counter, compared with an average volume of 1.05 lakh shares in the past one quarter.

The stock hit a high of Rs 1,934.20 and a low of Rs 1,904.35 so far during the day. The stock had hit a record high of Rs 2,112 on 8 April 2015. The stock had hit a 52-week low of Rs 1,280.10 on 1 September 2014.

The large-cap company has an equity capital of Rs 89.99 crore. Face value per share is Rs 2.

Lupin's Omeprazole Delayed-Release capsules 40mg are the AB rated generic equivalent of AstraZeneca's Prilosec Delayed-Release capsules 40mg. The drug is indicated for the short-term treatment of Duodenal Ulcer and Gastric Ulcer. The drug is also indicated for the treatment of Gastro Esophageal Reflux Disease (GERD), for maintenance of healing of Erosive Esophagitis and for Pathological Hypersecretory conditions. Prilosec has annual sales of $185 million in the United States, according to IMS MAT June 2015 data.

Lupin's consolidated net profit fell 16% to Rs 525.02 crore on 4.3% decline in total income to Rs 3225.81 crore in Q1 June 2015 over Q1 June 2014.

Lupin is a pharmaceutical company producing and developing a wide range of branded and generic formulations as well as 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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