Lupin gains on getting USFDA`s approval for Pitavastatin Tablets
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Lupin is currently trading at Rs. 1231.00, up by 8.55 points or 0.70% from its previous closing of Rs. 1222.45 on the BSE.
The scrip opened at Rs. 1222.00 and has touched a high and low of Rs. 1239.90 and Rs. 1219.80 respectively. So far 24899 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1239.90 on 22-Nov-2023 and a 52 week low of Rs. 628.10 on 31-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1239.90 and Rs. 1172.00 respectively. The current market cap of the company is Rs. 56134.43 crore.
The promoters holding in the company stood at 47.06%, while Institutions and Non-Institutions held 44.42% and 8.52% respectively.
Lupin has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Pitavastatin Tablets, 1 mg, 2 mg, and 4 mg, to market a generic equivalent of Livalo Tablets, 1 mg, 2 mg, and 4 mg, of Kowa Company. The product will be manufactured at Lupin’s Pithampur facility in India.
Pitavastatin Tablets are indicated as an adjunct to diet to reduce low-density lipoprotein cholesterol (LDL-C) in Adults with primary hyperlipidemia; and Adults and pediatric patients aged 8 years and older with heterozygous familial hypercholesterolemia (HeFH). Pitavastatin Tablets (RLD Livalo) had estimated annual sales of $298 million in the U.S. (IQVIA MAT September 2023).
Lupin is an innovation led transnational pharmaceutical compan producing, developing and marketing a wide range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.
