Lupin in pink of health after USFDA nod for contraceptive tablets

Lupin was up 0.96% at Rs 851.70 at 14:04 IST on BSE after the company said that it received final approval from USFDA for Tydemy tablets.

The announcement was made during market hours today, 14 December 2017.

Meanwhile, the S&P BSE Sensex was up 9.24 points or 0.03% at 33,062.28.

On the BSE, 57,539 shares were traded on the counter so far as against the average daily volumes of 2.71 lakh shares in the past two weeks. The stock had hit a hit a high of Rs 853.50 and a low of Rs 845 in intraday trade. 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 stock had outperformed the market over the past one month till 13 December 2017, gaining 1.81% compared with 0.06% gains in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 14.97% as against Sensex's 2.69% rise. The scrip had also underperformed the market in past one year, dropping 43.46% as against Sensex's 23.8% rise.

The large-cap company has equity capital of Rs 90.39 crore. Face value per share is Rs 2.

Lupin announced that it has received final approval for its Tydemy (Drospirenone, Ethinyl Estradiol, and Levomefolate Calcium Tablets, 3 mg/0.03 mg/0.451 mg and Levomefolate Calcium Tablets, 0.451 mg) from the United States Food and Drug Administration (USFDA) to market a generic version of Safyral Tablets of Bayer HealthCare Pharmaceuticals Inc.

These tablets are the AB rated generic equivalent of Safyral Tablets of Bayer HealthCare Pharmaceuticals Inc. Tydemy is indicated for use by women to prevent pregnancy and to raise folate levels in women who choose to use an oral contraceptive for contraception.

Drospirenone, Ethinyl Estradiol, and Levomefolate Calcium Tablets, 3 mg/0.03 mg/0.451 mg and Levomefolate Calcium Tablets, 0.451 mg tablets had annual sales of approximately $22.9 million in the US as per IMS MAT October 2017.

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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