Lupin rises on launching Varenicline Tablets
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Lupin is currently trading at Rs. 1411.50, up by 6.35 points or 0.45% from its previous closing of Rs. 1405.15 on the BSE.
The scrip opened at Rs. 1405.00 and has touched a high and low of Rs. 1417.65 and Rs. 1405.00 respectively. So far 7085 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1429.95 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. 1375.75 respectively. The current market cap of the company is Rs. 64239.75 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 launched Varenicline Tablets, 0.5 mg and 1 mg, after having received an approval from the United States Food and Drug Administration (USFDA).
Varenicline Tablets, 0.5 mg and 1 mg is the generic equivalent of Chantix Tablets, 0.5 mg and 1 mg, of PF Prism C.V. It is indicated for use as an aid to smoking cessation treatment. Varenicline Tablets (RLD Chantix) had estimated annual sales of $412 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.
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