Lupin rises on launching Desvenlafaxine Extended-Release Tablets in United States
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Lupin is currently trading at Rs. 656.05, up by 3.25 points or 0.50% from its previous closing of Rs. 652.80 on the BSE.
The scrip opened at Rs. 640.00 and has touched a high and low of Rs. 659.10 and Rs. 635.00 respectively. So far 38167 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 995.00 on 15-Sep-2021 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. 703.60 and Rs. 635.00 respectively. The current market cap of the company is Rs. 29471.73 crore.
The promoters holding in the company stood at 47.10%, while Institutions and Non-Institutions held 41.45% and 11.45% respectively.
Lupin has launched Desvenlafaxine Extended-Release Tablets, 25 mg, having received an approval from the United States Food and Drug Administration (USFDA). Desvenlafaxine Extended-Release Tablets, 25 mg is a generic equivalent of Pristiq Extended-Release Tablets, 25 mg of PF PRISM C.V. Desvenlafaxine Extended-Release Tablets, 25 mg (RLD Pristiq) had estimated annual sales of $14 million in the U.S. (IQVIA MAT June 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.
