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07-Sep2016

Lupin rises on receiving tentative nod from USFDA for Silodosin Capsules

Lupin is currently trading at Rs. 1544.35, up by 8.85 points or 0.58% from its previous closing of Rs. 1535.50 on the BSE.

The scrip opened at Rs. 1540.00 and has touched a high and low of Rs. 1551.05 and Rs. 1537.50 respectively. So far 22,000 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. 1551.05 and Rs. 1481.85 respectively. The current market cap of the company is Rs. 69,661.04 crore.

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

Pharma Major Lupin has received tentative approval for its Silodosin Capsules 4 mg and 8 mg from the United States Food and Drug Administration (USFDA) to market a generic version of Allergan Sales, LLC's Rapaflo Capsules, 4 mg and 8 mg.

The company's Silodosin Capsules, 4 mg and 8 mg are the AB rated generic equivalent of Allergan Sales, LLC's Rapaflo Capsules, 4 mg and 8 mg. It is indicated for the treatment of the signs and symptoms of benign prostatic hyperplasia. Rapaflo had US sales of $ 228.7 million.

Lupin is a pharmaceutical company and is engaged in formulation of drugs and active pharmaceutical ingredients (APIs), generics, biotechnology, novel drug discovery and development, drug delivery systems and specialty pharmaceuticals.






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