Lupin rose 2.98% to Rs 918.10 at 11:15 IST on BSE, with the stock extending Wednesday's 1.2% gains triggered by the company's US subsidiary launching its Abacavir Sulfate, Lamivudine and Zidovudine Tablets in the United States.
Meanwhile, the S&P BSE Sensex was down 171.89 points or 0.82% at 20,687.97.
On BSE, so far 86,000 shares were traded in the counter as against average daily volume of 89,379 shares in the past one quarter.
The stock hit a high of Rs 918.80 and a low of Rs 888 so far during the day. The stock had hit a record high of Rs 946.35 on 11 October 2013. The stock had hit a 52-week low of Rs 569 on 1 March 2013.
The stock had outperformed the market over the past one month till 18 December 2013, advancing 3.24% compared with the Sensex's 0.04% rise. The scrip had also outperformed the market in past one quarter, jumping 6.54% as against Sensex's 4.5% rise.
The large-cap company has equity capital of Rs 89.64 crore. Face value per share is Rs 2.
Shares of Lupin have risen 4.22% in two trading sessions from Rs 880.90 on 17 December 2013 after the company during trading hours on Wednesday, 18 December 2013 said that its US subsidiary - Lupin Pharmaceuticals Inc. -- has launched its Abacavir Sulfate, Lamivudine, and Zidovudine Tablets, 300 mg (base)/150 mg/300 mg in the US after the US District Court for the District of Delaware ruled that the Lupin's generic version of Trizivir did not infringe on patents. The stock had risen 1.2% to settle at Rs 891.55 on Wednesday, 18 December 2013.
Lupin had earlier received approval for the drug. Lupin's Abacavir Sulfate, Lamivudine Zidovudine 300mg (Base)/150mg/300mg Tablets are the AB-rated generic equivalent of ViiV Healthcare's (ViiV) Trizivir Tablets, 300 mg (base)/150 mg/300mg and are indicated in combination with other antiretrovirals or alone for the treatment of HIV-1 infection.
Lupin is the first applicant to file an ANDA (abbreviated new drug application) for Trizivir Tablets and as such is entitled to 180 days of marketing exclusivity, the company said in a statement. Trizivir Tablets, 300 mg (base)/150 mg/300mg had annual US sales of approximately $111.6 million, as per IMS MAT September 2013 data.
Lupin's consolidated net profit surged 39.8% to Rs 406.18 crore on 17.5% growth in net sales to Rs 2631.46 crore in Q2 September 2013 over Q2 September 2012.
Lupin is a transnational pharmaceutical company producing and developing a wide range of branded and generic formulations and APIs globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership positions in the anti-TB and cephalosporin segment.
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