Tuesday, 17 September 2013

Lupin gains on receiving USFDA approval for Generic Ambien CR Extended-release tablets

Lupin is currently trading at Rs. 841.65, up by 3.25 points or 0.39% from its previous closing of Rs. 838.40 on the BSE.

The scrip opened at Rs. 840.20 and has touched a high and low of Rs. 844.55 and Rs. 839.00 respectively. So far 5,535 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 908.00 on 19-Jul-2013 and a 52 week low of Rs. 540.15 on 11-Oct-2012.

Last one week high and low of the scrip stood at Rs. 880.00 and Rs. 827.00 respectively. The current market cap of the company is Rs. 37,697.00 crore.

The promoters holding in the company stood at 46.81% while Institutions and Non-Institutions held 43.07% and 10.12% respectively.

Lupin has received final approval for its Zolpidem Tartrate Extended‐release tablets USP, 6.25 mg and 12.5 mg from the United States Food and Drugs Administration (USFDA) to market a generic version of Sanofi Aventis, US, LLC’s (Sanofi) Ambien CR Extended‐release tablets, 6.25 mg and 12.5 mg. The company’s wholly owned US subsidiary Lupin Pharmaceuticals Inc. (LPI) shall commence marketing the product shortly.

Lupin’s Zolpidem CR tablets 6.25 mg & 12.5 mg is the AB rated generic equivalent of Sanofi’s Ambien CR Extended‐release tablets, 6.25 mg and 12.5 mg and is indicated for the treatment of insomnia characterized by difficulties with sleep onset and/or sleep maintenance.

Sanofi’s Ambien CR Extended‐release tablets had annual US sales of approximately $366 million, as per IMS MAT March 2013.

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