Lupin moves up on receiving USFDA`s approval for Bromfenac Ophthalmic Solution
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Lupin is currently trading at Rs. 1584.70, up by 4.95 points or 0.31% from its previous closing of Rs. 1579.75 on the BSE.
The scrip opened at Rs. 1600.00 and has touched a high and low of Rs. 1605.00 and Rs. 1577.55 respectively. So far 16787 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1605.00 on 07-Feb-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. 1605.00 and Rs. 1491.05 respectively. The current market cap of the company is Rs. 71978.64 crore.
The promoters holding in the company stood at 47.04%, while Institutions and Non-Institutions held 45.84% and 7.11% respectively.
Lupin has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Bromfenac Ophthalmic Solution, 0.075%, to market a generic equivalent of BromSite Ophthalmic Solution, 0.075%, of Sun Pharmaceutical Industries. Lupin is the exclusive first-to-file for this product. This product will be manufactured at Lupin’s Pithampur facility in India.
Bromfenac Ophthalmic Solution, 0.075% is indicated for the treatment of postoperative inflammation and prevention of ocular pain in patients undergoing cataract surgery. Bromfenac Ophthalmic Solution 0.075% (RLD BromSite) had estimated annual sales of $15 million in the U.S. (IQVIA MAT December 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.
