Lupin rose 0.19% to Rs 915.20 at 11:54 IST on BSE after the company said it has received final approval from USFDA for its supplemental new drug application for Antara capsules.
The announcement was made during trading hours today, 22 October 2013.
Meanwhile, the S&P BSE Sensex was down 38.12 points or 0.18% at 20,855.77.
On BSE, 61,000 shares were traded in the counter as against average daily volume of 1.50 lakh shares in the past two weeks.
The stock was volatile. The stock rose as much as 1.25% at the day's high of Rs 924.90 so far during the day. The stock lost as much as 0.37% at the day's low of Rs 910 so far during the day.
Lupin said that it has received final approval for its supplemental new drug application (Snda) for Antara (Fenofibrate) capsules, 30 mg and 90 mg strengths from the United States Food and Drug Administration (USFDA). Lupin Pharmaceuticals Inc. (LPI), the company's US subsidiary would commence marketing the product shortly. LPI currently markets and promotes Antara capsules, 43 mg and 130 mg strengths. The new drug would be manufactured by Lupin, the company said in a statement.
Lupin's Antara capsules enjoy strong brand equity with primary care physicians treating patients for high LDL-C, Total-C, triglycerides, Apo-B and low HDL-C. Antara capsules are prescribed for adjunct treatment of hypercholesterolemia (high blood cholesterol), mixed dyslipidemia and hyper-triglyceridemia (high triglycerides) in combination with diet.
Commenting on the approval, Vinita Gupta, CEO, Lupin said, "We are pleased to receive this approval. The approval demonstrates Lupin's commitment to building its brand franchise in the US. Our sales and marketing efforts will commence shortly".
Lupin is a pharmaceutical company producing and developing a wide range of branded and generic formulations and active pharmaceutical ingredients.
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