Lupin rose 2.38% to Rs 910.40 at 9:49 IST on BSE after the company said it received US drug regulator's tentative approval for generic Nudovra tablets.
The announcement was made on Wednesday, 22 August 2018.Meanwhile, the S&P BSE Sensex was up 55.32 points, or 0.14% to 38,341.07.
On the BSE, 88,000 shares were traded in the counter so far compared with average daily volumes of 3.56 lakh shares in the past two weeks. The stock had hit a high of Rs 916.85 and a low of Rs 894.25 so far during the day. The stock hit a 52-week high of Rs 1,090 on 30 October 2017. The stock hit a 52-week low of Rs 723.55 on 15 May 2018.
Lupin announced that it has received tentative approval from the United States Food and Drug Administration (USFDA) to market a generic version of Bayer HealthCare Pharmaceuticals Inc.'s Natazia tablets.
Lupin's Nudovra (Estradiol Valerate tablets, 3 mg and 1 mg and Estradiol Valerate and Dienogest tablets, 2 mg/2 mg and 2 mg/3 mg) tablets is the generic versional Bayer HealthCare Pharmaceuticals Inc.'s Natazia tablets. It is an estrogen/progestin combined oral contraceptive (COC), indicated for use by women to prevent pregnancy.
Nudovra tablets had annual sales of approximately $31.40 million in the US (IQVIA MAT June 2018).
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Lupin's consolidated net profit fell 43.11% to Rs 203.02 crore on 0.85% decline in net sales to Rs 3774.57 crore in Q1 June 2018 over Q1 June 2017.
Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.
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