Lupin rose 3.18% to Rs 1055.05 after the company announced the launch of penicillamine tablets USP, 250 mg, having received an approval from the United States Food and Drug Administration (US FDA) earlier.
Penicillamine tablets USP, 250 mg, are the generic equivalent of Depen tablets, 250 mg, of Mylan Specialty, L.P., and are indicated in the treatment of Wilson's disease, Cystinuria, and in patients with severe, active rheumatoid arthritis who have failed to respond to an adequate trial of conventional therapy.
The penicillamine tablets had estimated annual sales of $5 million in the US (IQVIA MAT December 2020).
Lupin is an innovation-led transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products and APIs in over 100 markets.
On a consolidated basis, the drug major reported net profit of Rs 441.35 crore in Q3 FY21 as against a net loss of Rs 840.36 crore reported in Q3 FY20. Net sales increased 5.4% to Rs 3,917.30 crore in Q3 FY21 from Rs 3,716.09 crore in Q3 FY20.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
