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.
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