Lupin moves up on getting approval from USFDA for Cyanocobalamin Nasal Spray
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Lupin is currently trading at Rs. 898.00, up by 5.55 points or 0.62% from its previous closing of Rs. 892.45 on the BSE.
The scrip opened at Rs. 885.55 and has touched a high and low of Rs. 902.00 and Rs. 885.55 respectively. So far 10866 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 908.65 on 30-Jun-2023 and a 52 week low of Rs. 602.80 on 04-Aug-2022.
Last one week high and low of the scrip stood at Rs. 908.65 and Rs. 876.10 respectively. The current market cap of the company is Rs. 40613.62 crore.
The promoters holding in the company stood at 47.08%, while Institutions and Non-Institutions held 42.52% and 10.40% respectively.
Lupin has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Cyanocobalamin Nasal Spray, 500 mcg/spray (One Spray per Device), a generic equivalent of Nascobal Nasal Spray, 500 mcg/spray of Par Pharmaceutical, Inc.
This product will be manufactured at Lupin’s Somerset facility in the US. Cyanocobalamin Nasal Spray (RLD Nascobal) had estimated annual sales of $69 million in the U.S. (IQVIA MAT March 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.
