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18-Aug2016

Lupin gains on receiving FDA approval for Potassium Chloride Extended Release Capsules

Lupin is currently trading at Rs. 1597.20, up by 1.90 points or 0.12% from its previous closing of Rs. 1595.30 on the BSE.

The scrip opened at Rs. 1598.00 and has touched a high and low of Rs. 1607.65 and Rs. 1591.50 respectively. So far 34,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2127.00 on 06-Oct-2015 and a 52 week low of Rs. 1294.05 on 29-Mar-2016.

Last one week high and low of the scrip stood at Rs. 1607.65 and Rs. 1568.50 respectively. The current market cap of the company is Rs. 72,030.00 crore.

The promoters holding in the company stood at 46.76%, while Institutions and Non-Institutions held 42.40% and 10.83% respectively.

Lupin's US subsidiary, Gavis Pharmaceuticals LLC., USA (collectively Lupin) has received final approval for its Potassium Chloride Extended Release Capsules USP, 8 mEq (600 mg) and 10 mEq (750 mg) from the United States Food and Drug Administration (FDA) to market a generic equivalent of Actavis Labs FL, Inc's Potassium Chloride Extended Release Capsules USP, 8 mEq and 10 mEq. Potassium Chloride Extended Release Capsules USP, 8 mEq and 10 mEq had US sales of USD 75.4 million as per IMS MAT March 2016 data.

Lupin's Potassium Chloride Extended Release Capsules USP, 8 mEq (600 mg) and 10 mEq (750 mg) are the AB rated generic equivalent of Actavis Labs FL, Inc's Potassium Chloride Extended Release Capsules USP, 8 mEq and 10 mEq. It is indicated for the treatment of patients with hypokalemia, with or without metabolic alkalosis, in digitalis intoxications and in patients with hypokalemic familial periodic paralysis. It is also indicated for the prevention of hypokalemia in patients who would be at a particular risk if hypokalemia were to develop, e.g., digitalized patients or patients with significant cardiac arrhythmias.

Lupin is an innovation led transnational pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology products and APIs globally.





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