Lupin shares jump over 5%; mcap surges by Rs 3,347 cr

Shares of pharma major Lupin surged over 5 per cent today after the company received tentative approval for its Abacavir Sulfate and Lamivudine tablets from the USFDA to market generic version of ViiV Healthcare company's Epzicom tablets.
The stock soared 5.22 per cent to settle at Rs 1,487.30 on BSE. During the day, it jumped 5.69 per cent to Rs 1,494.
At NSE, shares of the company rose by 5.24 per cent to end at Rs 1,486.90.
Led by the surge in the stock the company's market valuation climbed Rs 3,347.37 crore to Rs 67,113.37 crore.
The stock was the top performer among the bluechips on both Sensex and Nifty.

In terms of volume, 1.33 lakh shares of the company were traded on BSE and over 21 lakh shares changed hands at NSE during the day.

"Lupin's Abacavir Sulfate and Lamivudine tablets, 600 mg/300 mg are the AB rated generic equivalent of ViiV Healthcare company's Epzicom tablets, 600 mg/300 mg.
"Abacavir Sulfate and Lamivudine tablets, 600 mg/300 mg in combination with other antiretroviral agents are indicated for the treatment of human immunodeficiency virus type 1 (HIV-1) infection," a company statement said today.
The statement further said, "We have received tentative approval from USFDA for Abacavir Sulfate and Lamivudine tablets, to market a generic version of ViiV Healthcare company's Epzicom tablets."

Epzicom tablets had the US sales of USD 426 million.