Drug firm Lupin on Friday said it has received approval from the Canadian health regulator for its Propranolol Hydrochloride extended-release capsules used for treatment of hypertension and decrease frequency of angina.
The company has received approval for its Propranolol Hydrochloride extended-release (ER) capsules in the strengths of 60 mg, 80 mg, 120 mg and 160 mg from Health Canada, Lupin said in a statement.
Lupin is the first generic company to receive an approval for generic Inderal-LA capsules for the Canadian market and the product will be manufactured at the company's Pithampur unit-2 facility, it added.
The company's product is the generic version of Pfizer Canada ULC's Inderal-LA capsules in the same strengths, Lupin said.
As per IQVIA MAT December 2018 data, Propranolol Hydrochloride ER capsules had an annual sales of approximately CAD 8.6 million in the Canadian market, it added.
The capsules are indicated in the treatment of hypertension and for the prophylaxis of angina pectoris, Lupin said.
Shares of Lupin settled at Rs 763.80 per scrip on the BSE, up 0.61 per cent from its previous close.