Lupin rebounds 5% from 52-week low on drug launch

The stock up 4% to Rs 1,086, bouncing back 5% from 52-wk low of Rs 1,036 hit in intra-day trade

Lupin moved higher by 4% to Rs 1,086, bouncing back 5% from intra-day low on National Stock Exchange (NSE), after the company said it has launched in the US market its generic version of Moxifloxacin Hydrochloride Ophthalmic solution used for treating bacterial conjunctivitis.

The stock hit a 52-week low of Rs 1,036 on NSE in intra-day trade. At 01:22 pm; it was up 3.7% at Rs 1,082, as compared to 0.15% rise in Nifty 50 index and 0.72% gain in Nifty Pharma index. A combined 2.89 million shares changed hands on the counter on BSE and NSE so far.