Lupin gets nod to launch Doxycycline capsules from USFDA; stock rises
On Tuesday (April 9), the company, through a regulatory filing, informed investors that the US Food and Drug Administration (US FDA) had given the company approval to launch the first generic version of Oracea.
Lupin shares gained over 2 per cent in Wednesday's (April 10) trade on BSE, a day after it announced the launch of the first generic version of Oracea, Doxycycline capsules.
At around 10:01 a.m., shares of Lupin traded 1.11 per cent, or Rs 17.75, higher on the BSE at Rs 1,622.8 apiece. The market capitalisation of the company stood at Rs 73,912.97 crore at around the same time.
On Tuesday (April 9), the company, through a regulatory filing, informed investors that the US Food and Drug Administration (US FDA) had given the company approval to launch the first generic version of Oracea.
"Global pharma major Lupin Limited (Lupin) today announced the launch of the first generic version of Oracea® (Doxycycline Capsules, 40 mg) in the United States, after having received approval from the United States Food and Drug Administration (U.S. FDA)," the filing read.
Doxycycline capsules (40 mg) are indicated for the treatment of only inflammatory lesions (papules and pustules) of rosacea in adult patients.
Doxycycline capsules had estimated annual sales of USD 128 million in the US (IQVIA MAT, February 2024).
Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India. The company develops and commercialises a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.
It is the third-largest pharmaceutical company in the U.S. by prescriptions. The company enjoys a leadership position in the cardiovascular, anti-diabetic, and respiratory segments and has a significant presence in the anti-infective, gastrointestinal (GI), central nervous system (CNS), and women’s health areas.
Lupin share price: Past performance
In a year, shares of Lupin have given a multi-bagger return of over 144 per cent against Nifty50's rise of over 28 per cent.
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