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Lupin jumps after USFDA approval for generic asthma drug

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Lupin rose 2.38% to Rs 735.55 after the company said it received US drug regulator's approval for Zileuton extended-release tablets in the United States.

Pharma major Lupin announced that it has received approval from the United States Food and Drug Administration (USFDA) to market a generic equivalent of Zyflo CR extended-release tablets, 600 mg, of Chiesi USA, Inc.

Lupin's Zileuton extended-release tablets, 600 mg are indicated for prophylaxis and chronic treatment of asthma in adults and children 12 years of age and older. Zileuton (600 mg) had annual sales of approximately $43 million in the US. (IQVIA MAT September 2019). The announcement was made after trading hours on Friday, 8 November 2019.

Shares of Lupin fell 6.95% in the past two trading sessions to settle at Rs 718.45 on Friday, 8 November 2019, from its close of Rs 772.15 on 6 November 2019.

Lupin's consolidated net profit soared 37.1% to Rs 364.53 crore on 10.4% rise in net sales to Rs 4,296.90 crore in Q2 September 2019 over Q2 September 2018.

Lupin is engaged in producing, developing and marketing a range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) across the world.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 11 2019. 13:57 IST