Lupin moves up on getting USFDA`s tentative approval for Obeticholic Acid Tablets
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Lupin is currently trading at Rs. 652.00, up by 3.50 points or 0.54% from its previous closing of Rs. 648.50 on the BSE.
The scrip opened at Rs. 654.95 and has touched a high and low of Rs. 654.95 and Rs. 646.75 respectively. So far 6037 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 798.90 on 05-Apr-2022 and a 52 week low of Rs. 583.05 on 25-May-2022.
Last one week high and low of the scrip stood at Rs. 665.65 and Rs. 641.00 respectively. The current market cap of the company is Rs. 29662.51 crore.
The promoters holding in the company stood at 47.10%, while Institutions and Non-Institutions held 43.36% and 9.53% respectively.
Lupin has received tentative approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA), Obeticholic Acid Tablets, 5 mg and 10 mg, to market a generic equivalent of Ocaliva Tablets, 5 mg and 10 mg, of Intercept Pharmaceuticals, Inc.
Obeticholic Acid Tablets (RLD Ocaliva) had estimated annual sales of $255 million in the U.S. (IQVIA MAT December 2022).
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.
