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Lupin surges on getting tentative USFDA approval for Mirabegron Extended Release Tablets

Mumbai : Lupin is currently trading at Rs. 778.60, up by 15.10 points or 1.98% from its previous closing of Rs. 763.50 on the BSE. The scrip opened at Rs. 768.00 and has touched a high and low of Rs. 789.90 and Rs. 768.00 respectively. So far 38434 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 986.00 on 10-Sep-2018 and a 52 week low of Rs. 697.30 on 19-Jun-2019. Last one week high and low of the scrip stood at Rs. 789.90 and Rs. 725.00 respectively. The current market cap of the company is Rs. 34555.30 crore.

The promoters holding in the company stood at 46.97%, while Institutions and Non-Institutions held 38.07% and 14.96% respectively. Lupin has received tentative approval for its Mirabegron Extended Release (ER) Tablets, 25 mg and 50 mg, from the United States Food and Drug Administration (USFDA), to market a generic version of Myrbetriq Extended Release Tablets, 25 mg and 50 mg, of Astellas Pharma Global Development Inc. (Astellas).

The company’s Mirabegron ER Tablets, 25 mg and 50 mg, is a generic version of Myrbetriq Extended Release Tablets, 25 mg and 50 mg, of Astellas. It is indicated for the treatment of Overactive Bladder (GAB) with symptoms of urge urinary incontinence, urgency, and urinary frequency. Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.

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