Lupin rose 0.43% to Rs 1,871.15 at 9:17 IST on BSE after the company said that its US subsidiary has launched a generic antidepressant medicine in the United States.
Lupin made the announcement after market hours yesterday, 3 September 2015.
Meanwhile, the S&P BSE Sensex was down 160.92 points or 0.62% at 25,603.86.
On BSE, so far 1,995 shares were traded in the counter as against average daily volume of 1.10 lakh shares in the past two weeks.
The stock hit a high of Rs 1,879.85 and a low of Rs 1,868.15 so far during the day.
Lupin's US subsidiary Lupin Pharmaceuticals, Inc. (Lupin) has launched a generic antidepressant medicine Duloxetine 40 mg Delayed-Release (DR) Capsule in the United States. Lupin's Duloxetine 40 mg delayed-release (DR) capsule is the first and only generic Duloxetine formulation to become available in 40 mg dosage strength in the US. The annual market size of the branded and generic versions of antidepressant Cymbalta 20 mg, 30 mg and 60 mg capsule strengths is approximately $1.05 billion in the US, as per IMS MAT June 2015 data.
Lupin's consolidated net profit fell 16% to Rs 525.02 crore on 4.3% decline in total income to Rs 3225.81 crore in Q1 June 2015 over Q1 June 2014.
Lupin is a pharmaceutical company producing and developing a wide range of branded and generic formulations as well as biotechnology products 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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