Lupin rose 1.11% to Rs 1,164.95 after the drug major announced the US launch of tavaborole topical solution after receiving an approval from the US drug regulator.
Tavaborole topical solution is a generic equivalent of kerydin topical solution of Anacor Pharmaceuticals and is an oxaborole antifungal indicated for the topical treatment of onychomycosis of the toenails.According to IQVIA, tavaborole topical solution had an estimated annual sale of $53 million in the U.S for the month of May 2021. The product will be manufactured at Lupin's facility in Pithampur, India.
The drug major's consolidated net profit jumped 18.7% to Rs 464.37 crore on 0.8% fall in net sales to Rs 3,759.27 crore in Q4 March 2021 over Q4 March 2020. Lupin is an innovation-led transnational pharmaceutical company.
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