The drug major on Monday (28 September) announced the launch of Atorvastatin Calcium tablets having received an approval from the United States Food and Drug Administration (US FDA) earlier.
Atorvastatin Calcium tablets USP, 10 mg, 20 mg, 40 mg, and 80 mg, is the generic equivalent of Lipitor tablets, 10 mg, 20 mg, 40 mg and 80 mg, of Pfizer Inc., and indicated to lower cholesterol in blood for adults and children over 10 years of age. It is also prescribed to lower the risk of heart attack and stroke in patients with cardiovascular diseases, diabetes and other risk factors such as eye problems, kidney diseases or high blood pressure.
Atorvastatin Calcium Tablets USP (reference listed drug - Lipitor) had annual sales of approximately $559 million in the U.S. (IQVIA MAT July 2020).
"The product will be manufactured at Lupin's Nagpur facility in India," the company said in the BSE filing.
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.
The company's consolidated net profit tumbled 96.5% to Rs 106.9 crore on a 9.1% decline in sales to Rs 3,468.6 crore in Q1 FY21 over Q1 FY20.
The scrip shed 0.23% to Rs 995.50. It traded in the range of 980.70 and 1013 so far during the day.
The stock is currently trading above its 50-day, 100-day and 200-day simple moving averages (SMA) placed at 953.13, 921.75 and 823.07 respectively.
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