Lupin gains on launching generic anti-diarrheal drug in US

Lupin gained 2.74% to Rs 1059.95 after the drug major announced the launch of the authorized generic version of Alinia (nitazoxanide) tablets, 500 mg of Romark Laboratories.

Nitazoxanide tablets are indicated in the treatment of diarrhoea caused by Giardia lamblia or Cryptosporidium parvum in patients 12 years of age and older. According to IQVIA MAT data, nitazoxanide tablets had estimated annual sales of $56 million.

Meanwhile, the Nifty Pharma index was up 1.53% at 12,318.95.

Lupin is an innovation-led transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products and APIs in over 100 markets.

On a consolidated basis, the drug major reported net profit of Rs 441.35 crore in Q3 FY21 as against a net loss of Rs 840.36 crore reported in Q3 FY20. Net sales increased 5.4% to Rs 3,917.30 crore in Q3 FY21 from Rs 3,716.09 crore in Q3 FY20.

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