Shares of Lupin today soared by more than 5 per cent after the drug major received approval from the US health regulator to sell a generic drug, used to treat high cholesterol, in the American market.
The stock gained 5.39 per cent to settle at Rs 1,892.10 on BSE. During the day, it climbed 8 per cent to Rs 1,939.90.
At NSE, shares of the company advanced 5.29 per cent to close at Rs 1,890.55.
The stock was the biggest gainer among the front-line scrips on both Sensex and Nifty.
In terms of volume, 2.95 lakh shares of the company changed hands at BSE and over 33 lakh shares were traded at NSE during the day.
The company has received final approval from the US Food and Drug Administration (USFDA) to market generic version of Teva's Fenofibrate tablets in strengths of 54mg and 160mg, it said in a statement.
Lupin Pharmaceuticals Inc, the US based arm of Lupin, would commence promoting the product shortly in the US.
Lupin has close to 20 per cent market share of the overall US Fenofibrate market.
