Lupin rose 1.26% to Rs 984.10 after the drug major announced the launch of Nepexto, biosimilar etanercept, in the German market.
Lupin and Mylan N.V. announced the launch of Nepexto, biosimilar etanercept, in the German market. Nepexto is indicated for the treatment of moderate to severe active rheumatoid arthritis, juvenile idiopathic arthritis from the age of two years, active and progressive psoriatic arthritis, severe axial spondyloarthritis, moderate to severe plaque psoriasis and chronic severe plaque psoriasis in children and adolescents from the age of 6 years. Nepexto is approved for all therapeutic indications of the reference product Enbrel.The European Commission approved the marketing authorization of Nepexto on 4 June 2020 after the biosimilar received a favorable opinion from the Committee for Medicinal Products for Human Use (CHMP). The CHMP concluded that the development program including analytical, functional, clinical and immunogenicity data demonstrated biosimilarity with its reference product, Enbrel.
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 company's consolidated net profit tumbled 96.5% to Rs 106.9 crore on a 9.1% decline in sales to Rs 3,468.6 crore in Q1 FY21 over Q1 FY20.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content