Lupin rose 0.8% to Rs 862.25 at 10:55 IST on BSE after the company said that its US subsidiary has launched its generic Fenofibric Acid Delayed‐Release Capsules 45 mg and 135 mg in the United States.
The announcement was made during trading hours today, 6 December 2013.
Meanwhile, the S&P BSE Sensex was up 29.07 points or 0.14% at 20,986.88.
On BSE, 18,000 shares were traded in the counter as against average daily volume of 92,551 shares in the past one quarter.
The stock hit a high of Rs 866.95 and a low of Rs 857 so far during the day.
The stock had underperformed the market over the past one month till 5 December 2013, sliding 2.09% compared with the Sensex's 0.08% fall. The scrip had also underperformed the market in the past one quarter, rising 0.24% as against Sensex's 10.42% surge.
Lupin had earlier received final approval from the United States Food and Drug Administration (USFDA) for Fenofibric Acid Delayed?Release Capsules 45 mg and 135 mg.
Lupin's Fenofibric Acid Delayed?Release Capsules 45 mg and 135 mg are the generic equivalent of AbbVie Inc's Trilipix Delayed?Release Capsules 45 mg & 135 mg strengths are indicated as co?administration therapy with statins for the treatment of mixed dyslipidemia, treatment of severe hypertriglyceridemia and primary hypercholesterolemia or mixed dyslipidemia.
Trilipix Delayed?Release Capsules 45 mg & 135 mg strengths had annual sales of approximately $449.5 million in the Unites States 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 an innovation led transnational pharmaceutical company producing and developing a wide range of branded and generic formulations and active pharmaceutical ingredients.
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