Lupin gains on receiving tentative approval from USFDA to market generic Prezista tablets

Lupin rose 0.79% to Rs 1,440 at 9:32 IST on BSE after company said that it has received tentative approval from USFDA to market its Darunavir Ethanolate Tablets, a generic version of Janssen Products, LP (Janssen) Prezista.

The company made announcement after trading hours on Tuesday, 30 December 2014

Meanwhile, the S&P BSE Sensex was up 36.67 points or 0.13% at 27,440.21.

On BSE, so far 1,240 shares were traded in the counter as against average daily volume of 50,151 shares in the past one quarter.

The stock hit a high of Rs 1,442 and a low of Rs 1,438.90 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.

The stock had outperformed the market over the past one month till 30 December 2014, declining 3.54% compared with Sensex's 4.5% fall. The scrip had however underperformed the market in past one quarter, rising 2.42% as against Sensex's 2.9% rise.

The large-cap pharma company has equity capital of Rs 89.84 crore. Face value per share is Rs 2.

Lupin announced that it has received tentative approval for its Darunavir Ethanolate Tablets 75 milligram (mg), 150 mg, 300 mg, 400 mg, 600 mg and 800 mg from the United States Food and Drugs Administration (FDA) to market a generic version of Janssen Products, LP (Janssen) Prezista Tablets 75 mg, 150 mg, 300 mg, 400 mg, 600 mg. Lupin's Darunavir Ethanolate Tablets 75 mg, 150 mg, 300 mg, 400 mg, 600 mg are the AB-rated generic equivalents of Janssen's Prezista tablets. Lupin's Darunavir Tablets are indicated for the treatment of HIV-1 infections. Prezista Tablets had annual US sales of $1.2 billion (IMS MAT September, 2014).

Lupin's consolidated net profit rose 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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