Lupin surges 5% on USFDA nod for generic ulcer drug

Shares of Lupin today surged nearly 5 per cent after the company received approval from the US drug regulator to market generic Omeprazole delayed-release capsules, used to treat ulcer, in the American market.
On BSE, the company's scrip opened at Rs 1,840.05 and rose 5.42 per cent to touch day's high of Rs 1,910. It finally closed at Rs 1,898.50, up 4.79 per cent on the exchange.
On the National Stock Exchange (NSE), the stock opened at Rs 1,860 and surged by 5.58 per cent to reach its intra-day high of Rs 1,911.45.
It settled the day at Rs 1,890, up Rs 4.40 per cent.

In a regulatory filing, Lupin said that it has received final approval for its Omeprazole delayed-release capsules (40 mg) from the United States Food and Drugs Administration (USFDA).
Omeprazole delayed-release capsules are the generic equivalent of AstraZeneca's Prilosec delayed-release capsules, which are indicated for the treatment of duodenal ulcer, gastric ulcer and gastro esophageal reflux disease.