Lupin gains on receiving USFDA`s approval for Loteprednol Etabonate Ophthalmic Suspension
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Lupin is currently trading at Rs. 1301.00, up by 12.00 points or 0.93% from its previous closing of Rs. 1289.00 on the BSE.
The scrip opened at Rs. 1289.15 and has touched a high and low of Rs. 1311.35 and Rs. 1289.15 respectively. So far 22525 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1319.90 on 04-Dec-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. 1311.35 and Rs. 1252.30 respectively. The current market cap of the company is Rs. 59174.24 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 (U.S. FDA) for its Abbreviated New Drug Application for Loteprednol Etabonate Ophthalmic Suspension, 0.2%, to market a generic equivalent to the reference listed drug (RLD) Alrex Ophthalmic Suspension, 0.2%, of Bausch & Lomb Inc.
The product will be manufactured at Lupin’s Pithampur facility in India. Loteprednol Etabonate Ophthalmic Suspension, 0.2%, is indicated for the temporary relief of the signs and symptoms of seasonal allergic conjunctivitis. Loteprednol Etabonate Ophthalmic Suspension, 0.2% (RLD Alrex), had estimated annual sales of $29.1 million in the U.S. (IQVIA MAT October 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.
