Lupin hits 52-week high on getting USFDA’s approval for Pitavastatin Tablets

On Wednesday, Lupin shares were trading at its 52-week high of Rs 1,239.90, up by 1.42% from its previous closing of Rs 1,222.45 on the BSE.

USFDA approval for Pitavastatin

Lupin has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Pitavastatin Tablets, 1 mg, 2 mg, and 4 mg, to market a generic equivalent of Livalo Tablets, 1 mg, 2 mg, and 4 mg, of Kowa Company. The product will be manufactured at Lupin’s Pithampur facility in India.

Pitavastatin Tablets are indicated as an adjunct to diet to reduce low-density lipoprotein cholesterol (LDL-C) in Adults with primary hyperlipidemia; and Adults and pediatric patients aged 8 years and older with heterozygous familial hypercholesterolemia (HeFH). Pitavastatin Tablets (RLD Livalo) had estimated annual sales of $298 million in the U.S. (IQVIA MAT September 2023).

Company profile

Incorporated in 1968, 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. The company has a significant presence in the Cardiovascular, Diabetology, Asthma, Pediatrics, and Central Nervous system, among other segments, and is a global leader in the Anti-TB and Cephalosporins segments.

Lupin Stock price movement

Today, the Lupin stock opened at Rs 1,222 and has touched a high and low of Rs 1,239.90 and Rs 1,215.40, respectively. The BSE group ‘A’ stock of face value of Rs 2 has a 52-week high and low of Rs 1,239.90 and Rs 628.10, respectively. Last one week high and low of the scrip stood at Rs 1,239.90 and Rs 1,172, respectively. The current market cap of the company is Rs 55,406.00 crore.

The promoters holding in the company stood at 47.06%, while Institutions and Non-Institutions held 44.42% and 8.52%, respectively.

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