Lupin shines as its arm gets USFDA`s approval for Fluocinolone Acetonide Body Oil
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Lupin is currently trading at Rs. 1102.95, up by 19.10 points or 1.76% from its previous closing of Rs. 1083.85 on the BSE.
The scrip opened at Rs. 1092.00 and has touched a high and low of Rs. 1108.95 and Rs. 1088.25 respectively. So far 12965 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1,108.95 on 09-Aug-2023 and a 52 week low of Rs. 623.20 on 19-Sep-2022.
Last one week high and low of the scrip stood at Rs. 1108.95 and Rs. 989.30 respectively. The current market cap of the company is Rs. 49325.60 crore.
The promoters holding in the company stood at 47.07%, while Institutions and Non-Institutions held 43.30% and 9.64% respectively.
Lupin’s wholly-owned subsidiary--Novel Laboratories Inc., based in Somerset, New Jersey, has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Fluocinolone Acetonide Oil, 0.01% (Body Oil), a generic equivalent of Derma-Smoothe/FS 0.01% (Body Oil), of Hill Dermaceuticals, Inc. This product will be manufactured at Lupin’s Somerset facility in the US. Fluocinolone Acetonide Oil (RLD Derma-Smoothe/FS) had estimated annual sales of $10 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.
