Lupin inches up on getting USFDA`s tentative approval for Dapagliflozin and Saxagliptin Tablets
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Lupin is currently trading at Rs. 1402.35, up by 4.45 points or 0.32% from its previous closing of Rs. 1397.90 on the BSE.
The scrip opened at Rs. 1429.95 and has touched a high and low of Rs. 1429.95 and Rs. 1399.35 respectively. So far 16984 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1,429.95 on 05-Jan-2024 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. 1429.95 and Rs. 1307.70 respectively. The current market cap of the company is Rs. 63650.10 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 tentative approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Dapagliflozin and Saxagliptin Tablets, 5 mg/5 mg and 10 mg/5 mg, to market a generic equivalent of Qtern Tablets, 5 mg/5 mg and 10 mg/5 mg of AstraZeneca AB. This product will be manufactured at Lupin’s Pithampur facility in India.
Dapagliflozin and Saxagliptin Tablets are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus. Dapagliflozin and Saxagliptin Tablets (RLD Qtern) had estimated annual sales of $5 million in the U.S. (IQVIA MAT November 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
