Lupin sweetens after launching Lodosyn in US

Lupin rose 1.36% to Rs 749.85 at 15:12 IST on BSE after the company announced the launch of its Carbidopa Tablets 25mg in the United States.

The announcement was made during trading hours today, 27 March 2018.

Meanwhile, the S&P BSE Sensex was up 88.38 points or 0.27% at 33,154.79.

On the BSE, 73,000 shares were traded on the counter so far as against the average daily volumes of 87,000 shares in the past two weeks. The stock had hit a high of Rs 752 and a low of Rs 742 so far during the day. The stock had hit a 52-week high of Rs 1,496.85 on 24 March 2017 and a 52-week low of Rs 727.05 on 26 March 2018.

The large-cap company has equity capital of Rs 90.42 crore. Face value per share is Rs 2.

Lupin announced the launch of its Carbidopa Tablets 25mg having received an approval from the United States Food and Drug Administration (FDA) earlier. Lupin's Carbidopa Tablets, 25mg is the generic equivalent of Aton Pharma, Inc.'s Lodosyn Tablets, 25 mg.

It is indicated for use with carbidopa-Ievodopa or with levodopa in the treatment of the symptoms of idiopathic Parkinson's disease (paralysis agitans), postencephalitic parkinsonism, and symptomatic parkinsonism, which may follow injury to the nervous system by carbon monoxide intoxication and/or manganese intoxication.

Carbidopa Tablets, 25mg had annual sales of approximately $17.4 million in the US (IQVIA MAT January 2018).

Lupin's consolidated net profit fell 64.98% to Rs 221.73 crore on 11.45% decline in net sales to Rs 3900.36 crore in Q3 December 2017 over Q3 December 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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