Lupin trades higher on receiving USFDA`s approval for Doxycycline Hyclate Delayed-Release Tablets
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Lupin is currently trading at Rs. 1091.25, up by 9.55 points or 0.88% from its previous closing of Rs. 1081.70 on the BSE.
The scrip opened at Rs. 1094.75 and has touched a high and low of Rs. 1094.75 and Rs. 1078.60 respectively. So far 12461 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1108.95 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. 1073.65 respectively. The current market cap of the company is Rs. 49676.02 crore.
The promoters holding in the company stood at 47.07%, while Institutions and Non-Institutions held 43.30% and 9.64% respectively.
Lupin has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Doxycycline Hyclate Delayed-Release Tablets USP, 50 mg, 60 mg, 75 mg, 80 mg, 100 mg, 120 mg, 150 mg, and 200 mg, to market a generic equivalent of Doryx Delayed-Release Tablets, 50 mg, 75 mg, 80 mg, 100 mg, 150 mg, and 200 mg and Doryx MPC DelayedRelease Tablets, 60 mg and 120 mg, of Mayne Pharma International.
This product will be manufactured at Lupin’s Pithampur facility in India. Doxycycline Hyclate Delayed-Release Tablets USP (RLD Doryx) had estimated annual sales of $9 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.
