Lupin rose 2.13% to Rs 832.45 at 13:25 IST on BSE after the company received tentative US FDA approval for Apixaban Tablets, 2.5 mg and 5 mg.
The announcement was made after market hours yesterday, 10 December 2018.On the BSE, 69,000 shares were traded in the counter so far compared with average daily volumes of 1.59 lakh shares in the past two weeks. The stock had hit a high of Rs 835 and a low of Rs 803 so far during the day.
Lupin announced that it has received tentative approval for its Apixaban Tablets, 2.5 mg and 5 mg from the United States Food and Drug Administration (FDA) to market a generic version of Bristol-Myers Squibb Company's Eliquis Tablets, 2.5 mg and 5 mg. It is indicated for reducing the risk of stroke and systemic embolism in nonvalvular atrial fibrillation; prophylaxis of deep vein thrombosis (DVT), which may lead to pulmonary embolism (PE), following hip or knee replacement surgery; treatment of DVT and PE and reducing the risk of recurrent DVT and PE. Eliquis Tablets, 2.5 mg and 5 mg had annual sales of approximately $6366 million in the US (IQVIA MAT September 2018).
On a consolidated basis, Lupin's net profit fell 41.24% to Rs 268.45 crore on 0.43% rise in net sales to Rs 3890.93 crore in Q2 September 2018 over Q2 September 2017.
Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APls globally.
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