Lupin inches up on launching first generic version of Pred Forte in United States
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Lupin is currently trading at Rs. 2248.00, up by 4.85 points or 0.22% from its previous closing of Rs. 2243.15 on the BSE.
The scrip opened at Rs. 2234.15 and has touched a high and low of Rs. 2272.15 and Rs. 2234.15 respectively. So far 11302 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2312.00 on 05-Sep-2024 and a 52 week low of Rs. 1113.00 on 31-Oct-2023.
Last one week high and low of the scrip stood at Rs. 2311.65 and Rs. 2111.90 respectively. The current market cap of the company is Rs. 102488.56 crore.
The promoters holding in the company stood at 46.96%, while Institutions and Non-Institutions held 46.60% and 6.44% respectively.
Lupin has launched the first generic version of Pred Forte (Prednisolone Acetate) Ophthalmic Suspension USP, 1% in the United States. Being the first generic to be approved and launched, the company is entitled to 180-day competitive generic therapy (CGT) exclusivity.
Prednisolone Acetate Ophthalmic Suspension USP, 1% is a generic equivalent of Pred Forte Ophthalmic Suspension, 1% of AbbVie, Inc. and is indicated for the treatment of steroid-responsive inflammation of the palpebral and bulbar conjunctiva, cornea, and anterior segment of the globe. Pred Forte had estimated annual sales of $198 million in the U.S. (IQVIA MAT August 2024).
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.
