Lupin scales record high on launching InspiraChamber in US

Lupin rose 0.86% to Rs 1,695.95 at 09:48 IST on BSE after the company's US subsidiary launched the all new InspiraChamber Anti-Static Valved Holding Chamber in the United States.

The announcement was made after market hours yesterday, 18 February 2015.

Meanwhile, the BSE Sensex was up 111.44 points, or 0.38%, to 29,431.70

On BSE, so far 8,456 shares were traded in the counter, compared with an average volume of 43,553 shares in the past one quarter.

The stock hit a record high of Rs 1,698.85 in intraday trade today, 19 February 2015. The stock hit a low of Rs 1,687.20 so far during the day. The stock hit a 52-week low of Rs 903.95 on 27 May 2014.

 

The large-cap pharma company has an equity capital of Rs 89.87 crore. Face value per share is Rs 2.

Lupin announced that its US subsidiary, Lupin Pharmaceuticals Inc. (collectively Lupin) has launched the all new InspiraChamber Anti-Static Valved Holding Chamber (VHC) under a strategic licensing agreement with the New Jersey based respiratory research and development company InspiRX Inc. (InspiRX). The agreement grants Lupin exclusive rights to promote, distribute and market InspiraChamber VHC in the United States.

Developed by InspiRX, the all new InspiraChamber VHC is a device that has been designed to enhance delivery of aerosol therapies. The InspiraChamber VHC is intended to be used by patients who are under the care or treatment of a physician or licensed healthcare professional. The device is intended to be used by asthma patients to administer aerosolized medication from most pressurized Metered Dose Inhalers (pMDIs). Several clinical and laboratory studies have shown that the InspiraChamber VHC has features that are superior to the leading VHCs in the market. These features may lead to more effective delivery of asthma medicines.

Lupin and Celon Pharma S.A. (Celon) announced on Tuesday, 17 February 2015, that they have entered into a definitive agreement under which the companies will jointly develop fluticasone/salmeterol dry powder inhaler (DPI) product which is a generic version of GlaxoSmithKline's Advair Diskus. Lupin will be responsible for commercialization of the product. Celon will supply the product to Lupin for its commercialization in the United States, Canada, Mexico, and other key markets. GlaxoSmithKline's Advair Diskus had global sales of over $7 billion as of last fiscal.

The Reserve Bank of India had on 12 February 2015 had announced hike in the ceiling on investment in shares of Lupin by foreign institutional investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) under the portfolio investment scheme to 49% of the company's equity capital with effect from 12 February 2015, from earlier 33%. Total FII holding in Lupin stood at 31.77% as on 31 December 2014.

Lupin's consolidated net profit rose 26.3% to Rs 601.45 crore on 6.8% rise in total income to Rs 3261.04 crore in Q3 December 2014 over Q3 December 2013.

Lupin is an innovation led transnational pharmaceutical company producing and developing a wide range of branded and generic formulations and APIs.

Powered by Capital Market - Live News