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Lupin inches up on getting approval for Tavaborole Topical Solution from USFDA

Lupin is currently trading at Rs. 1064.10, up by 5.95 points or 0.56% from its previous closing of Rs. 1058.15 on the BSE.

The scrip opened at Rs. 1069.55 and has touched a high and low of Rs. 1069.55 and Rs. 1058.00 respectively. So far 1376 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1121.85 on 18-Sep-2020 and a 52 week low of Rs. 505.00 on 13-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1086.95 and Rs. 1032.75 respectively. The current market cap of the company is Rs. 47997.39 crore.

The promoters holding in the company stood at 46.88%, while Institutions and Non-Institutions held 40.05% and 12.79% respectively.

Lupin has received approval for its Tavaborole Topical Solution, 5%, from the United States Food and Drug Administration (USFDA), to market a generic equivalent of Kerydin Topical Solution, 5%, of Anacor Pharmaceuticals, Inc. The product will be manufactured at Lupin’s facility in Pithampur, India.

Tavaborole Topical Solution, 5%, is an oxaborole antifungal indicated for the topical treatment of onychomycosis of the toenails due to Trichophyton rubrum or Trichophyton mentagrophytes. Tavaborole Topical Solution (RLD: Kerydin) had estimated annual sales of $76 million in the U.S.

Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India.

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