Lupin rose 1% to Rs 666.25 at 9:27 IST on BSE after the company said its subsidiary has received final approval from USFDA to market a generic version of Teva Branded Pharm's Seasonique Tablets.
The company made the announcement after market hours on Friday, 12 April 2013.
Meanwhile, the S&P BSE Sensex was down 52.66 points or 0.29% at 18,189.90
On BSE, 5,016 shares were traded in the counter as against average daily volume of 63,879 shares in the past one quarter.
The stock hit a high of Rs 668.70 so far during the day, which is a record high for the counter. The stock hit a low of Rs 654.50 so far during the day. The stock had hit a 52-week low of Rs 507 on 15 June 2012.
The stock had outperformed the market over the past one month till 12 April 2013, surging 10.05% compared with the Sensex's 6.76% fall. The scrip had also outperformed the market in past one quarter, jumping 12.22% as against Sensex's 7.23% fall.
The large-cap company has an equity capital of Rs 89.51 crore. Face value per share is Rs 2.
Lupin after market hours on Friday, 12 April 2013, said that its subsidiary Lupin Pharmaceuticals Inc. has received final approval for its Daysee Tablets (Levonorgestrel and Ethinyl Estradiol Tablets, USP, 0.15 mg/0.03 mg and Ethinyl Estradiol Tablets, USP, 0.01 mg) from the United States Food and Drugs Administration (USFDA) to market a generic version of Teva Branded Pharm's Seasonique Tablets. Lupin said it has already commenced shipping the product. Lupin's Daysee Tablet is indicated for use by women to prevent pregnancy. According to IMS MAT December 2012 data, the total sales for Branded and generic sales for the product stood at $161 million in US, Lupin said.
Lupin's consolidated net profit jumped 42.6% to Rs 335.23 crore on 37.6% growth in net sales to Rs 2465.87 crore in Q3 December 2012 over Q3 December 2011.
Headquartered in Mumbai, Lupin is a pharmaceutical company producing and developing a wide range of branded and generic formulations and APIs. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-Infective and NSAID space and holds global leadership positions in the Anti-TB and Cephalosporin segment.
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