Lupin’s Shares Soar on USFDA Approval for High-Sales Tablets

On Wednesday, the shares of Lupin closed at Rs 1112.95, up by 2.89% from its previous closing of Rs 1081.70 on the BSE. 

Lupin has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Doxycycline Hyclate Delayed-Release Tablets USP, 50 mg, 60 mg, 75 mg, 80 mg, 100 mg, 120 mg, 150 mg, and 200 mg, to market a generic equivalent of Doryx Delayed-Release Tablets, 50 mg, 75 mg, 80 mg, 100 mg, 150 mg, and 200 mg and Doryx MPC Delayed-Release Tablets, 60 mg and 120 mg, of Mayne Pharma International. 

This product will be manufactured at Lupin’s Pithampur facility in India. Doxycycline Hyclate Delayed-Release Tablets USP (RLD Doryx) had estimated annual sales of USD 9 million in the U.S. (IQVIA MAT June 2023). 

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 e Anti-TB and Cephalosporins segments. 

Today, the stock opened at Rs 1094.75 and has touched a high and low of Rs 1115.40 and Rs 1078.60 respectively. So far 12461 shares were traded on the counter. 

The BSE group ‘A’ stock of face value of Rs 2 has touched a 52-week high and low of Rs 1,115.40 and Rs 623.20, respectively. 

Last one week high and low of the scrip stood at Rs 1,115.40 and Rs 1,073.65 respectively. The current market cap of the company is Rs 50,649.93 crore. 

The promoters holding in the company stood at 47.07%, while Institutions and Non-Institutions held 43.30% and 9.64%, respectively. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.