Lupin rose 1.98% to Rs 909.50 after the drug major announced that it has received US drug regulator's approval for its Penicillamine tablets USP, 250 mg.
Penicillamine tablets are a generic equivalent of Depen tablets of Mylan Specialty, L.P. The product would be manufactured at Lupin's Nagpur facility and is expected to be launched shortly.The drug is indicated in the treatment of Wilson's disease, Cystinuria, and in patients with severe, active rheumatoid arthritis who have failed to respond to an adequate trial of conventional therapy.
Penicillamine Tablets USP had an annual sales of approximately $4 million in the US (IQVIA MAT September 2020).
Lupin is an innovation-led transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products and APIs in over 100 markets.
The drug major reported a consolidated net profit of Rs 211 crore in Q2 FY21 compared with net loss of Rs 127.1 crore in Q2 FY20. Net sales during the quarter declined by 1% year-on-year (YoY) to Rs 3781.80 crore.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU