Lupin rises on getting USFDA’s approval for Rufinamide Tablets

Lupin is currently trading at Rs. 688.15, up by 0.60 points or 0.09% from its previous closing of Rs. 687.55 on the BSE.

The scrip opened at Rs. 685.00 and has touched a high and low of Rs. 691.80 and Rs. 678.85 respectively. So far 15453 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 995.00 on 15-Sep-2021 and a 52 week low of Rs. 583.05 on 25-May-2022.

Last one week high and low of the scrip stood at Rs. 695.00 and Rs. 674.90 respectively. The current market cap of the company is Rs. 31283.79 crore.

The promoters holding in the company stood at 47.10%, while Institutions and Non-Institutions held 41.45% and 11.45% respectively.

Lupin has received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Rufinamide Tablets USP, 100 mg, 200 mg, and 400 mg, to market a generic equivalent of Banzel Tablets, 100 mg, 200 mg, and 400 mg, of Eisai Inc. The product will be manufactured at Lupin’s facility in Goa, India. Rufinamide Tablets (RLD Banzel) had estimated annual sales of $164 million in the U.S. (IQVIA MAT June 2022).

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.