Lupin soars 10% USFDA nod for Perindopril

Lupin has soared 10% to Rs 1,566, after the company announced that the US Food and Drug Administration (USFDA) has granted tentative approval to its Perindopril Erbumine Tablets, 2mg, 4mg and 8mg.

The stock opened at Rs 1,422, currently trading near it's days high of Rs 1,566 on the BSE. Around 109,000 shares have changed hands at the counter so far.

Meanwhile, the company had posted 38% rise in the consolidated net profit to Rs 161 crore for Q3FY10 against Rs 117 crore net for the corresponding quarter a year ago. Total income was up 29% at Rs 1,271 crore (Rs 984 crore) for the quarter ended December 2009.