Lupin rises 1 pc after USFDA nod

Shares of drug firm Lupin ended the day with nearly 1 per cent rise after the company received tentative approval from the US health regulator to market its Balasalazide Disodium tablets, used for treatment of ulcerative colitis, in the American market.
On BSE, the stock settled at Rs 1,466.30, up 0.97 per cent from its previous close. It had opened at Rs 1,456 and surged 1.14 per cent to an intra-day high of Rs 1,468.65.
Following an uptick in the counter, the market capitalisation of the company shot up by Rs 681.74 crore to Rs 66,194.02 crore.
The scrip ended today's trading session on NSE at Rs 1,465.10, up 0.74 per cent from the previous close. Intra-day it had soared 1.1 per cent to a high of Rs 1,470.30.

Overall, more than 5.95 lakh shares of the company were traded on the exchanges.
The company has received tentative approval to market its Balasalazide Disodium tablets 1.1 gm from the United States Food and Drug Administration (USFDA).
The company's product is generic version of Salix Pharmaceuticals Inc's Giazo tablets in the same strength, it added.