Lupin rose 1.08% to Rs 861.80 at 9:32 IST on BSE after the company announced the launch of generic Potassium Chloride Oral Solution USP, 20 mEq/15mL (10%) and 40 mEq/15 ml (20%).
The announcement was made after market hours yesterday, 4 October 2018.Meanwhile, the S&P BSE Sensex was down 155.81 points, or 0.44% to 35,013.35
On the BSE, 17,000 shares were traded in the counter so far compared with average daily volumes of 2.02 lakh shares in the past two weeks. The stock had hit a high of Rs 864.20 and a low of Rs 843.60 so far during the day. The stock hit a 52-week high of Rs 1,090 on 30 October 2017. The stock hit a 52-week low of Rs 723.55 on 15 May 2018.
Pharma major Lupin announced the launch of Potassium Chloride Oral Solution USP, 20 mEq/15mL {10%) and 40 mEq/15 mL (20%), having received an approval from the United States Food and Drug Administration (FDA) earlier.
Lupin's Potassium Chloride Oral Solution is the generic equivalent of Genus Lifesciences, Inc.'s Potassium Chloride Oral Solution. It is indicated for the treatment and prophylaxis of hypokalemia with or without metabolicalkalosis, in patients for whom dietary management with potassium-rich foods and/or diureticdose reduction are insufficient.
Potassium Chloride Oral Solution had annual sales of approximately $184.95 million in the US {IQVIA MAT June 2018).
Lupin's consolidated net profit fell 43.11% to Rs 203.02 crore on 0.85% decline in net sales to Rs 3774.57 crore in Q1 June 2018 over Q1 June 2017.
Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.
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