Lupin gains 3% on USFDA approval for generic Corgard tablets

The company has received final approval from the US health regulator to market generic Nadolol tablets, used for treatment of hypertension, in the American market.

Lupin was trading 3% higher at Rs 1,068 on BSE at 09:30 AM after the pharmaceutical company said it has received final approval from the US health regulator to market generic Nadolol tablets, used for treatment of hypertension, in the American market.

“The company has received final approval for its Nadolol tablets USP 20 mg, 40 mg and 80 mg from the United States Food and Drug Administration (USFDA) to market a generic version of US WorldMeds, LLC Corgard Tablets, 20 mg, 40 mg and 80 mg,” Lupin said in a press release on Monday after market hours.

The product is a generic version of US WorldMeds LLC's Corgard tablets in the same strengths, it added.

The tablets are indicated for management of patients with angina pectoris and for the treatment of hypertension.

According to IMS MAT June 2017 data, Nadolol tablets USP had annual sales of approximately USD 109.8 million in the US.