Lupin gains in volatile trade after reports of receiving USFDA approval for a drug

Lupin rose 0.33% to Rs 1,835.50 at 14:15 IST on BSE after reports the company has received approval from the US Food & Drug Administration for anti-inflammatory drug Diclofenac Sodium.

Meanwhile, the BSE Sensex was down 119.96 points, or 0.46% to 25,924.95.

On BSE, so far 69,871 shares were traded in the counter, compared with an average volume of 1.01 lakh shares in the past one quarter.

At the day's high of Rs 1,895, the stock had risen 3.58%. At the day's low of Rs 1,818.30 the stock had declined 0.6%. 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 1,247.40 on 25 August 2014.

The stock had outperformed the market over the past one month till 25 August 2015, rising 9.42% compared with 7.4% fall in the Sensex. The stock had also outperformed the market in past one quarter, gaining 4.26% as against Sensex's 5.83% decline.

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

Meanwhile, Lupin had announced on 20 August 2015, that the company has received final approval from the United States Food and Drugs Administration (USFDA) for its Fenofibrate Tablets 54 mg and 160 mg, a generic version of Teva's Fenofibrate Tablets, 54 mg and 160 mg. Lupin's US subsidiary, Lupin Pharmaceuticals Inc. would commence promoting the product shortly in the US, the company had said. The drug is indicated as an adjunct to diet to reduce elevated LDLC, Total-C, TG and Apo B, and to increase HDL-C in adult patients with primary hypercholesterolemia or mixed dyslipidemia and for treatment of adult patients with severe hypertriglyceridemia. Fenofibrate Tablets 54 mg and 160 mg clocked annual sales of $156 million in the United States, as per 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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