Lupin shines on getting USFDA`s tentative nod for Canagliflozin Tablets
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Lupin is currently trading at Rs. 1217.75, up by 21.45 points or 1.79% from its previous closing of Rs. 1196.30 on the BSE.
The scrip opened at Rs. 1223.95 and has touched a high and low of Rs. 1233.40 and Rs. 1213.20 respectively. So far 35427 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1239.90 on 22-Nov-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. 1239.90 and Rs. 1184.00 respectively. The current market cap of the company is Rs. 54463.60 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 Canagliflozin Tablets, 100 mg and 300 mg, to market a generic equivalent of Invokana Tablets, 100 mg and 300 mg, of Janssen Pharmaceuticals, Inc.
This product will be manufactured at Lupin’s Pithampur facility in India. Canagliflozin Tablets (RLD Invokana) had estimated annual sales of $561 million in the U.S. (IQVIA MAT September 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.
