Lupin gains on signing pact with Onset Dermatologics

Lupin will market the Onset's skin disease treatment medicine Locoid Lotion in the American market.

Lupin is trading higher by 2% at Rs 868 on BSE after the pharmaceutical company announced that it has signed an agreement with US-based Onset Dermatologics under which it will market the latter's skin disease treatment medicine Locoid Lotion in the American market.

Locoid is the most highly prescribed mid-potency steroid brand in the US. The medicine is a corticosteroid indicated for the topical treatment of mild to moderate Atopic Dermatitis in patients 3 months of age and older, Lupin said in a regulatory filing.

The stock opened at Rs 854 and has seen a combined 160,000 shares changing hands on the counter in early morning deals on BSE and NSE.