Lupin gains on inking distribution agreement with Medis for orphan drug ‘NaMuscla’
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Lupin is currently trading at Rs. 805.50, up by 4.95 points or 0.62% from its previous closing of Rs. 800.55 on the BSE.
The scrip opened at Rs. 809.00 and has touched a high and low of Rs. 812.30 and Rs. 801.20 respectively. So far 27377 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1267.50 on 02-Jun-2021 and a 52 week low of Rs. 784.60 on 08-Feb-2022.
Last one week high and low of the scrip stood at Rs. 916.00 and Rs. 784.60 respectively. The current market cap of the company is Rs. 36593.87 crore.
The promoters holding in the company stood at 46.81%, while Institutions and Non-Institutions held 40.39% and 12.79% respectively.
Lupin has entered into a distribution agreement with Medis for Lupin's orphan drug NaMuscla (mexiletine). Medis will commercialize NaMuscla for the symptomatic treatment of myotonia in adults with non-dystrophic myotonic (NDM) disorders in Central and Eastern European countries. NaMuscla is the first and only licensed product for this indication.
Under the agreement, Medis will initially focus on the commercialization of NaMuscla in the Central and East European countries, namely Croatia, Czech Republic, Hungary, Slovakia, and Slovenia in the first phase. Lupin will continue commercialization of NaMuscla in Germany, France, and the UK.
Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India.
