Lupin trades higher after US FDA gives a go-ahead to its Varenicline tablets

Lupin Share Price: Global pharma major Lupin shares traded higher in early morning deals on BSE on Wednesday (November 6, 2023) after the company announced receiving approval from the US FDA for its Varenicline Tablets that aids to smoking cessation treatment. The product will be manufactured at Lupin’s Pithampur facility in India.

The stock of the company was trading higher by 0.32 per cent, or Rs 4.05, at Rs 1262.75 at 10:11 on Wednesday.

The company's shares fared well in the last week, hitting 52-week highs on November 29 and 30, and December 1 and 4.

The company informed on Wednesday it had received approval from the United States Food and Drug Administration (U.S. FDA) for its abbreviated new drug application for Varenicline tablets, 0.5 mg and 1 mg, to market a generic equivalent of Chantix Tablets, 0.5 mg and 1 mg, of PF Prism C.V. 

"Varenicline Tablets, 0.5 mg and 1 mg are indicated for use as an aid to smoking cessation treatment. Varenicline Tablets (RLD Chantix®) had estimated annual sales of USD 430 million in the U.S. (IQVIA MAT October 2023)," said the company.