The pharma major announced the launch of authorized generic version of Bausch Health's Apriso (mesalamine extended-release capsules 0.375 g) in the US.
Mesalamine extended-release capsules 0.375g (authorized generic version) are indicated for the maintenance of remission of ulcerative colitis in patients 18 years of age and older.Mesalamine extended-release capsules 0.375 g, RLD: Apriso had an annual sales of approximately $290 million in the US (IQVIA MAT March 2020).
On the technical front, the stock's RSI (relative strength index) stood at 58.658. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading below its 50-day moving average (DMA) placed at 732.40 and its 200-day moving average (DMA) placed at 739.32. All these levels will act as a support level in the upcoming trading sessions.
On a consolidated basis, Lupin reported a net loss of Rs 835 crore in Q3 December 2019 as against a net loss of Rs 151.75 crore in Q3 December 2018. Net sales declined 2.75% to Rs 3,716.09 crore in Q3 December 2019 over Q3 December 2018.
Lupin is an innovation-led transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) in over 100 markets across the world.
Lupin slipped 0.48% to Rs 853 on BSE. The stock traded in the range of Rs 844.75 to Rs 869.90 so far.
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