Lupin rose 0.91% to Rs 985 after the drug major announced the launch of Meloxicam capsules, 5 mg, and 10 mg, having received an approval from the United States Food and Drug Administration.
The product is the generic equivalent of Vivlodex capsules of Zyla Life Sciences US, Inc., and indicated for management of osteoarthritis (OA) pain. Meloxicam capsules had an annual sales of approximately $11 million in the US (IQVIA MAT October 2020).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.
The drug major reported a consolidated net profit of Rs 211 crore in Q2 FY21 compared with net loss of Rs 127.1 crore in Q2 FY20. Net sales during the quarter declined by 1% year-on-year (YoY) to Rs 3781.80 crore.
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