Lupin receives approval from USFDA for depression drug

Lupin on Thursday announced that it has received approval from the United States Food and Drug Administration for its Abbreviated New Drug Application (ANDA), desvenlafaxine extended-release tablets.

Desvenlafaxine extended-release tablets are generic equivalent of Pristiq extended-release tablets of PF PRISM C.V. Desvenlafaxine is used in the treatment of depression by increasing the levels of chemical messengers (serotonin and noradrenaline) that help maintain mental balance.

According to IQVIA, Desvenlafaxine extended-release tablets, had estimated annual sales of $14 million for the month of December 2021 in the United States.

Lupin said the product will be manufactured at its facility in Goa, India.

Lupin is a transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products and APIs in over 100 markets in the U.S., India, South Africa and across Asia Pacific (APAC), Latin America (LATAM), Europe and Middle-East regions.

The company's consolidated net profit jumped 24.47% to Rs 545.52 crore on a 3.57% rise in total revenue from operations to Rs 4,160.93 crore in Q3 FY22 over Q3 FY21.

Shares of Lupin ended 0.17% lower at Rs 772.35 on Wednesday.

Domestic markets are closed today, 14 April 2022 on account of Mahavir Jayanti / Dr. Baba Saheb Ambedkar Jayanti. The stock eschanges will also remain shut tomorrow, 15 April 2022 on account of Good Friday.

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