Lupin share price gains 2% on USFDA approval

Stocks

The share touched its 52-week high Rs 1,121.85 and 52-week low Rs 505.00 on 18 September, 2020 and 13 March, 2020, respectively.

Representative image

Representative image

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Lupin share price added 2 percent intraday on January 25 after the company received United States Food and Drug Administration (US FDA) approval.

The company has received approval for its Sevelamer Carbonate Tablets, 800 mg, from the US FDA, to market a generic equivalent of Renvele Tablets, 800 mg, of Genzyme Corporation.

Sevelamer Carbonate Tablets are indicated for the control of serum phosphorus in adults and children 6 years of age and older with chronic kidney disease on dialysis.

Sevelamer Carbonate Tablets had estimated annual sales of USD 348 million in the US (IQVIA MAT September 2020).

A meeting of the board of directors of the company is scheduled on January 28, 2021, to consider and approve unaudited financial results for the quarter and nine months ended December 31, 2020.

At 13:29 hrs, Lupin was quoting at Rs 1,096.35, up Rs 17.10, or 1.58 percent on the BSE.

The share touched its 52-week high Rs 1,121.85 and 52-week low Rs 505.00 on 18 September 2020 and 13 March 2020, respectively.

Currently, it is trading 2.27 percent below its 52-week high and 117.1 percent above its 52-week low.