Lupin in pink of health after launching generic lotion

Lupin rose 1.37% to Rs 875.15 at 9:57 IST on BSE after the company announced the launch of its Clobetasol Propionate Lotion 0.05% having received an approval from the United States Food and Drug Administration earlier.

The announcement was made after market hours yesterday, 1 February 2018.

Meanwhile, the S&P BSE Sensex was down 408.27 points, or 1.14% to 35,498.39.

On the BSE, 36,989 shares were traded in the counter so far, compared with average daily volumes of 2.87 lakh shares in the past one quarter. The stock had hit a high of Rs 883 and a low of Rs 855.05 so far during the day. The stock had hit a 52-week high of Rs 1,572.25 on 6 February 2017. The stock had hit a 52-week low of Rs 807 on 6 December 2017.

The large-cap company has equity capital of Rs 90.41 crore. Face value per share is Rs 2.

Lupin's Clobetasol Propionate Lotion 0.05% is the generic equivalent of Galderma Labs' Clobex lotion. It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid responsive dermatoses, in patients 18 years of age or older.

Clobetasol Propionate Lotion 0.05% had annual sales of approximately $12.6 million in the US as per IQVIA MAT December 2017.

The company will announce Q3 results on 6 February 2018. Lupin's consolidated net profit fell 31.3% to Rs 455.01 crore on 8% decline in net sales to Rs 3874.16 crore in Q2 September 2017 over Q2 September 2016.

Lupin is a transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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