Lupin rises following product launch in US

DALAL STREET SPIKES

In a subdued market, Lupin gained 0.6 per cent on thin volumes after the company announced about launching a new product in the US. The stock closed at Rs 658.40 after touching the day's high of Rs 673.80 with volumes accounting for mere 30 thousand shares at the BSE.

According to market sources, the counter is witnessing renewed buying after the stock was shifted back to rolling settlement from the trade-to-trade segment from March 25.

Lupin on Tuesday said it has launched its anti-infective product Suprax (cefixime oral suspension) in the US. The newly established 50 strong paediatric specialty sales force of the company's subsidiary, Lupin Pharmaceuticals Inc (LPI), has begun detailing Suprax, the company said.

According to analyst, the launch of anti-infective product will enhance the company's profitability as the market for branded anti-infective oral suspension is over $1 billion.