Lupin rose 1.87% to Rs 747.40 after the drug major announced that it has launched Formoterol Fumarate Inhalation Solution in the United States (US).
Formoterol Fumarate is used to control chronic obstructive pulmonary disease (COPD) that includes chronic bronchitis and emphysema.Formoterol Fumarate Inhalation Solution, 20 mcg/2 mL per Unit-Dose Vial is a generic equivalent of Perforomist Inhalation Solution, 20 mcg/2 mL, of Mylan Specialty, L.P.
Formoterol Fumarate Inhalation Solution (RLD Perforomist) had estimated annual sales of $268 million in the U.S. (IQVIA MAT September 2022).
Separately, Lupin's wholly-owned subsidiary in Brazil, MedQuica Indtria Farmactica (MedQuica), has signed a definitive agreement to acquire all rights to nine medicines from BL Indtria ica, a subsidiary of Bausch Health Companies Inc.
The nine products includes Limbitrol, Melleril and Dalmadorm for Central Nervous System related conditions, Bacrocin, Glyquin, Solaquin, Oxipelle and Efurix as topical oncological treatments, and Cuprimine for the treatment of Wilson's disease.
Lupin is an innovation led Transnational Pharmaceutical Company producing, developing and marketing a wide range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.
On consolidated basis the company reported net profit of Rs 129.73 crore in Q2 FY23 as against net loss of Rs 2098.04 crore in Q2 FY22. Revenue from operations rose 2.2% to Rs 4091.16 crore in Q2 FY23 as compared to Rs 4003.42 crore in Q2 FY22.
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