Lupin is currently trading at Rs. 562.90, up by 9.35 points or 1.32% from its previous closing of Rs. 555.55 on the BSE.
The scrip opened at Rs. 557.00 and has touched a high and low of Rs. 564.80 and Rs. 556.65 respectively. So far 1, 90,430 shares were traded on the counter.
The BSE stock of face value Rs. 2 has touched a 52 week high of Rs. 631.95 on 10-Sep-2012 and a 52 week low of Rs. 408.20 on 14-Dec-2011.
The promoters holding in the company stood at 46.89% while Institutions and Non-Institutions held 43.37% and 9.75% respectively.
Lupin’s subsidiary - Lupin Pharmaceuticals Inc. has received final approval for its Irbesartan Tablets 75mg, 150mg and 300mg from the United States Food and Drugs Administration (USFDA) to market a generic version of Sanofi Aventis US, LLC’s (Sanofi Aventis) Avapro Tablets, 75mg, 150mg and 300mg strengths.
Lupin’s Irbesartan Tablets 75mg, 150mg and 300mg are the AB-rated generic equivalent of Sanofi Aventis’s Avapro Tablets. Irbesartan is an angiotensin II receptor antagonist and is indicated for the treatment of Hypertension and Nephropathy in Type 2 Diabetic patients. Avapro Tablets had annual US sales of approximately $400.7 million (IMS MAT June 2012 sales).
Lupin has a vibrant presence in the Indian pharmaceuticals market and has over the past several years made major strides in expanding its therapy portfolio. The company has a robust promotion and distribution setup along with a strong presence in various therapeutic areas, including the fast growing diabetes market.
