Lupin rose 0.94% to Rs 79.50 at 09:18 IST on BSE after the company announced that it has received approval for its Atorvastatin Calcium Tablets from the USFDA to market a generic version of Pfizer Inc's Lipitor Tablets.
The announcement was made after market hours yesterday, 7 March 2019.Meanwhile, the S&P BSE Sensex was down 47.22 points, or 0.13% to 36,678.20
On the BSE, 4,684 shares were traded in the counter so far compared with average daily volumes of 80,000 shares in the past two weeks. The stock had hit a high of Rs 799.80 and a low of Rs 795.85 so far during the day.
Pharma major Lupin announced that it has received approval for its Atorvastatin Calcium Tablets USP, 10 mg, 20 mg, 40 mg, and 80 mg, from the United States Food and Drug Administration (FDA) to market a generic version of Pfizer Inc's Lipitorfl Tablets, 10 mg, 20 mg, 40 mg and 80 mg.
Lupin's Atorvastatin Calcium Tablets USP 10 mg, 20 mg, 40 mg, and 80 mg, is the generic version of Pfizer Inc's Lipitor Tablets, 10 mg, 20 mg, 40 mg and 80 mg. It is indicated to lower cholesterol in blood for adults and children over 10 years of age. Atorvastatin is also prescribed to lower the risk for heart attack, stroke in patients with cardiovascular diseases, diabetes and other risk factors such as eye problems, kidney diseases or high blood pressure.
Atorvastatin Calcium Tablets USP, 10 mg, 20 mg, 40 mg, and 80 mg had annual sales of approximately USD 696 million in the US (JQVIA MAT December 2018).
On a consolidated basis, Lupin reported net loss of Rs 151.75 crore in Q3 December 2018 as compared to net profit of Rs 221.73 crore in Q3 December 2017. Net sales rose 12.24% to Rs 4377.94 crore in Q3 December 2018 over Q3 December 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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