Lupin gains 1% on USFDA approval to launch tablets in US market


Nov 03, 2017 09:27 AM IST | Source: Moneycontrol.com

Lupin’s Doxycycline Hyclate Tablets USP, 75 mg and 150 mg are the AB rated generic equivalent of Aqua Pharmaceuticals, LLC’s Acticlate Tablets, 75 mg and 150 mg.

Picture for representational purposes

Moneycontrol News

Shares of Lupin gained 1 percent intraday Friday on the back of launch of Doxycycline tablets in the US market.

The company has launched Doxycycline Hyclate tablets USP, 75 mg and 150 mg in the US market after receiving approval from United States Food and Drug Administration (USFDA).

Lupin’s Doxycycline Hyclate Tablets USP, 75 mg and 150 mg are the AB rated generic equivalent of Aqua Pharmaceuticals, LLC’s Acticlate Tablets, 75 mg and 150 mg.

They are indicated in the treatment of infections caused by various microorganisms and as an adjunctive therapy in severe acne.

As per IMS MAT June 2017 data, Doxycycline Hyclate tablets USP, 75 mg and 150 mg had annual sales of around USD 263 million in the US.

The company has posted 31 percent decline in net profit to Rs 455 crore in the second quarter ended September 30 on account of dip in US sales, despite strong performance in other markets.

Total revenue from operations dropped 8 percent to Rs 3951.9 crore from Rs 4,290.5 crore.

At 09:18 hrs Lupin was quoting at Rs 1,069, up Rs 8.10, or 0.76 percent on the BSE.

The share price declined 28 percent in the last 9 months.

Posted by Rakesh Patil