Lupin rose 3.25% to Rs 1,153 at 14:20 IST on BSE after the company said it has received approval from the US health regulator for generic Ancobon Capsules.
The announcement was made during market hours today, 10 July 2017.Meanwhile, the S&P BSE Sensex was up 393.73 points or 1.26% at 31,754.36.
On the BSE, 5.19 lakh shares were traded on the counter so far as against the average daily volumes of 1.44 lakh shares in the past one quarter. The stock had hit a high of Rs 1,156 and a low of Rs 1,119 so far during the day. The stock had hit a 52-week high of Rs 1,750 on 29 July 2016 and a 52-week low of Rs 1,036.80 on 5 July 2017.
The stock had underperformed the market over the past one month till 7 July 2017, sliding 3.23% compared with the Sensex's 0.29% rise. The stock had also underperformed the market over the past one quarter, declining 20.82% as against the Sensex's 5.57% rise. The scrip had also underperformed the market over the past one year, declining 32.62% as against the Sensex's 15.29% rise.
The large-cap company has equity capital of Rs 90.34 crore. Face value per share is Rs 2.
Lupin received final approval for its Flucytosine Capsules USP, 250 mg and 500 mg from the United States Food and Drug Administration (FDA) to market a generic version of Valeant Pharmaceuticals International Inc's Ancobon Capsules, 250 mg and 500 mg.
Flucytosine Capsules USP, 250 mg and 500 mg are indicated for the treatment of serious infections caused by susceptible strains of Candida and/or Cryptococcus.
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Ancobon Capsules had US sales of $46.6 million (IMS MAT March 2017).
On consolidated basis, Lupin's net profit fell 49.2% to Rs 380.21 crore on 1.3% growth in net sales to Rs 4161.88 crore in Q4 March 2017 over Q4 March 2016.
Lupin is a transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.
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