Lupin gains on launching generic Cipro for oral suspension in US

Lupin is currently trading at Rs. 988.05, up by 4.10 points or 0.42% from its previous closing of Rs. 983.95 on the BSE. The scrip opened at Rs. 984.00 and has touched a high and low of Rs. 988.95 and Rs. 983.95 respectively. So far 3,016 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1022.00 on 07-May-2014 and a 52 week low of Rs. 742.30 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 994.35 and Rs. 952.00 respectively. The current market cap of the company is Rs. 44,311.00 crore. The promoters holding in the company stood at 46.75% while Institutions and Non-Institutions held 43.17% and 10.08% respectively. Lupin’s US subsidiary, Lupin Pharmaceuticals Inc. (LPI) has launched its Ciprofloxacin for Oral Suspension, 5 g/100 mL (250mg/5 mL) and 10 g/100 mL (500 mg/5 mL) in the US having received final approval from the FDA earlier. Lupin’s Ciprofloxacin Oral Suspension, 5 g/100 mL (250 mg/5 mL) and 10 g/100 mL (500 mg/5 mL) is the generic equivalent of Bayer HealthCare Pharmaceuticals, Inc.’s (Bayer) Cipro Oral Suspension 5 g/100 mL (250 mg/5 mL) and 10 g/100 mL (500 mg/5 mL) and indicated for the treatment of infections caused by susceptible isolates of the designated microorganisms in various conditions and patient populations. Lupin is the first applicant to file an ANDA for Cipro Oral Suspension 250 mg/ml & 500 mg/ml and as such is entitled to 180 days of marketing exclusivity. Cipro Oral Suspension had annual US sales of $8.6 million, as per IMS MAT March, 2014.